In an announcement last Friday, Charter Communications Inc had priced its shares for a planned initial public offering of notes that fall due on 2024. The offer is intended to raise funds to buyback or redeem existing notes currently held by a subsidiary.

The senior notes would bear an interest rate of 5.750% per year issued at par. With the IPO, the proceeds forecasted would amount to nearly US$987 million less expenses and fees.

With the proceeds, the firm intends to buy back or redeem CCO Holdings' at 7.875% senior notes that would fall due on 2018. It also would be paying related fees, other expenses and other corporate costs for the bond issue.

CCO Holdings had already tendered 2018 notes earlier in the week. This offering is expected to be closed by May 13. WIth the offer, share values of Charter Communications increased by 31 cents to a closing value of US$103.04.