Investing.com - Charter Communications Inc's (NASDAQ:CHTR) shares rallied on Wednesday, with the company announcing just before the closing bell that it had closed on an upsized offering of $1.5 billion in unsecured debt.
The senior unsecured notes due 2028 were sold at 5%. Net proceeds will be used for general purposes, including buybacks of stock or of common units of its LLC, Charter Communications Holdings.
Charter’s shares were higher even before the debt closure after CNBC reported that Altice and its American unit Altice USA are considering a bid to buy the company.
Charter's shares set an all time high of $408.83 on Wednesday.