U.S. cable giant Charter Communications has raised $3 billion in fresh cash via a new debt offering. Charter in an April 14 Securities and Exchange Commission filing said the new issue had come in two tranches: one for $1.6 billion in senior secured notes due 2031, and the second at $1.4 billion in senior notes due 2051.
The company added it intends to use the net proceeds from the debt offering for general corporate purposes. The pandemic has led Charter, like most large Hollywood media players, to increase its access to cash so that it can weather the storm and resume normal operations once the health threat recedes.