Charter said holders of 81% of bonds it is offering to exchange t...
Charter said holders of 81% of bonds it is offering to exchange tendered them. Some $6.83 billion in principal amount of notes due in 2009-2012 will be exchanged for bonds due in 2014 and 2015, as of Fri. Bondholders…
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have until Sept. 26 to tender their notes, although they're no longer eligible to receive an “early participation payment,” Charter said. “We're pleased with the results of the exchange to date,” said a spokesman, who declined further comment. The preliminary results were positive, said UBS cable analyst Aryeh Bourkoff, who recommends buying Charter bonds. He said he expects “discussions with the bank borrowing group, potential further debt-for-debt exchanges, asset sales or a possible equity infusion.”