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March 14, 2013

CT-bound Charter Comm. closes $1B debt issue

Missouri cable-TV giant Charter Communications Inc. finalized its sale of $1 billion in secured debt, some proceeds from which may fund Charter’s pending headquarters move to Stamford.

Two tranches of debt – each with $500 million face value – were sold, with one batch due 2021 bearing 5.25 percent annual interest; the other 5.75 percent and due in 2023, Charter said Thursday.

Charter emerged last October as one of Connecticut's "First Five'' job generators, with its announcement of a plan to invest $10 million – two-thirds of it in the form of a two-year state loan – to relocate its suburban St. Louis headquarters to Stamford, creating 200 jobs.

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