Charter Communications Inc. (CHTRQ.PK) said on Monday it has exited Chapter 11 bankruptcy. The cable operator has slashed its debts by 40 percent, or $8 billion, after working with bondholders to restructure its finances.
Charter, which is controlled by Microsoft Corp. co-founder Paul Allen, should generate cash flow soon because it is cutting its annual interest expense by more than $830 million. It’s also getting $1.6 billion in new capital from an equity rights offering. Finally, the company will apply for a new common-stock listing on the Nasdaq stock market in the next few weeks.
Charter, the nation’s fourth-largest cable provider, filed for bankruptcy in March. Before it did that, though, it started working out debt restructuring plans with some bondholders.
.@Vonage announces new #contactcenter capabilities. #APIplatform https://t.co/NB1p8Gl7L1
June 22 2018 @ 22:38:05 UTC
Unable to attend this week's @ConnectWise #AN18? Catch all the highlights and photos here! https://t.co/yHSX6hidzJ
June 22 2018 @ 20:50:15 UTC
.@telarus announced its partner awards last night. https://t.co/fXsPvEuKjw
June 22 2018 @ 17:06:18 UTC
Join thousands of channel experts who get free and fresh content delivered to their inboxes each week >>a https://t.co/67RL0BO2Y0
June 22 2018 @ 17:05:09 UTC
Partners, the Microsoft 365 bundle offers an opportunity to better serve and secure customers https://t.co/8bbe8sv7Zk
June 22 2018 @ 15:15:37 UTC
Loading ...