CHARTER RAISES $900M

In the first big cable-related debt offering of the year, Charter Communications said it raised $900 million from a high-yield, or junk bond, sale. Heavy demand prompted the company to increase the size of the offering by one-third ? Charter originally said on Jan. 4 it planned an offering of $600 million. Charter said it priced three sets of high-yield debt: $350 million of 9.625% senior notes due 2009, $300 million of 10% senior notes due 2011 and $250 million of 12.125% senior notes due 2012. Charter plans to use the proceeds of the sale, which is expected to close Jan. 14, to pay down certain revolving credit facilities and for general corporate purposes.

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