Charter Communications announced that its subsidiary, CCO Safari III, entered into a $1.0 billion term loan H senior secured credit facility and a $2.8 billion term loan I senior secured credit facility, each pursuant to the terms of the Charter Communications operating amended and restated credit agreement, providing for $3.8 billion of term loans in the aggregate.

Merrill Lynch, Credit Suisse Securities (USA), Goldman Sachs Bank USA, Goldman Sachs Lending Partners, Deutsche Bank Securities and UBS Securities were the joint lead arrangers and joint bookrunners for the new facilities.

The final maturity date of the term loan H is August 24, 2021, and the final maturity date of the term loan I is January 24, 2023. Pricing on the new term loan H was set at LIBOR plus 250 basis points, with a 75bps LIBOR floor. Pricing on the new term loan I was set at LIBOR plus 275 basis points, with a 75bps LIBOR floor. Term loan H and term loan I were each issued with 0.25% of original issue discount.

Charter intends to use the net proceeds from the new term loans to partially finance Charter’s previously announced transactions with Time Warner Cable and Bright House Networks.