Missouri cable-TV giant Charter Communications Inc., one of Connecticut’s “First Five” job generators, is issuing $1 billion in fresh, cheap debt, some of which may be used to finance its pending headquarters move to this state.
Charter said Thursday it intends use net proceeds of its sale of senior secured notes for general corporate purposes, including to repay existing bank debt.
Last October, Gov. Dannel P. Malloy announced Charter would be investing $10 million — much of it in the form of a state loan – to move its suburban St. Louis, Mo., headquarters to Stamford, creating 200 jobs.
In exchange for Charter’s commitment, the state Department of Economic and Community Development pledged a 10-year loan of $6.5 million at 2 percent, with principal payments deferred for three years.
