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EXHIBIT 99.2
[CHARTER COMMUNICATIONS LOGO] NEWS
FOR RELEASE: WEDNESDAY, OCTOBER 25, 2000
CHARTER PRICES $650 MILLION CONVERTIBLE SENIOR NOTE OFFERING
ST. LOUIS -- Charter Communications, Inc. (Nasdaq: CHTR) today
announced that the company has offered and priced a new issue of $650 million of
Convertible Senior Notes (the "Notes") due 2005. The Notes will have an annual
interest rate of 5.75%, payable semi-annually, and will be convertible into
Class A common stock at $21.56 per share. The company may also issue up to an
additional $100 million of Notes pursuant to an option granted to the initial
purchasers of the Notes.
The net proceeds of this issuance will be used to repay a portion of
amounts outstanding under the August 2000 $1 billion bridge loan of Charter
Communications Holdings, LLC.
This issuance is being made in a private placement under Rule 144A. The
Notes and shares of Class A common stock issuable upon conversion have not been
registered under the Securities Act of 1933, as amended, and may not be offered
or sold in the United States unless they are registered or unless such sale is
exempt from the registration requirements of the Securities Act.
With 6.3 million customers, Charter Communications, a Wired World(TM)
company, is among the nation's largest broadband communications companies.
Charter offers an array of advanced broadband services, including cable
television under the Charter Cable TV(TM) brand; advanced digital video
programming services under the Charter Digital Cable(TM) brand; and high-speed
Internet access via Charter Pipeline(TM). Charter's Class A common stock is
traded on the Nasdaq National Market under the ticker symbol "CHTR." More
information about Charter can be found on the Internet at www.chartercom.com.
Statements in this press release regarding Charter Communications' business that
are not historical facts may be "forward-looking statements." Forward-looking
statements are inherently subject to risks, uncertainties and assumptions.
Important factors that could cause actual results to differ materially from any
such forward-looking statements are identified in the reports and documents
Charter files from time to time with the U.S. Securities and Exchange
Commission.
CONTACTS:
MEDIA ANALYST
Anita Lamont, 314-543-2215 Mary Jo Moehle, 314-543-2397
