<PAGE> 1
EXHIBIT 99.1
[CHARTER COMMUNICATIONS LOGO] NEWS
FOR RELEASE: TUESDAY, OCTOBER 24, 2000
CHARTER TO ISSUE CONVERTIBLE SENIOR NOTES
ST. LOUIS -- Charter Communications, Inc. (Nasdaq: CHTR) today
announced its intent to issue Convertible Senior Notes due 2005 in a private
placement under Rule 144A to raise estimated proceeds of $450 million.
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.
The notes will not be 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.
Interest on the notes is expected to be payable semi-annually. The
notes will be convertible at any time into shares of Charter Communications,
Inc. Class A common stock.
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
Charter Communications Charter Communications
Anita Lamont, 314-543-2215 Mary Jo Moehle, 314-543-2397
[email protected] [email protected]
