Charter Communications announced that its unrestricted subsidiary, CCO Safari, entered into a term loan G senior secured credit facility pursuant to the terms of the Charter Communications Operating amended and restated credit agreement, providing for $3.5 billion of term loans.

Goldman Sachs Bank USA, BofA Merrill Lynch, Credit Suisse Securities (USA) and Deutsche Bank Securities served as the joint lead book runners and joint lead arrangers for the new facilities.

The final maturity date of the term loans is September 12, 2021. All funds from the new term loans will remain in escrow at CCO Safari until the closing of the previously announced transactions between Charter and Comcast, at which time the term loan G senior secured credit facility will become an obligation of Charter Operating.

Pricing on the new term loans was set at LIBOR plus 350 basis points, with a 75 bps LIBOR floor. The new term loans were issued with 0.5% of original issue discount.

The new term loans will be used to finance Charter’s acquisition, from Comcast, of cable systems serving approximately 1.5 million Time Warner Cable video customers. Charter had previously announced that it had entered into commitments for up to $8.4 billion of loans. The $3.5 billion is a portion of that commitment, with the remaining commitment continuing.

Stamford, CT-based Charter is a broadband communications company and the fourth-largest cable operator in the U.S.