Deal Description: On August 24, 2020, Liberty Broadband Corporation (“Liberty Broadband”) announced that it has priced and agreed to sell to initial purchasers in an upsized private offering $500 million aggregate original principal amount of its 2.75% exchangeable senior debentures due 2050 (the “Debentures”) exchangeable for Charter Communications, Inc. (“Charter”) Class A common stock. Liberty Broadband has also granted the initial purchasers an option to purchase additional Debentures in an aggregate original principal amount of up to $75 million.
Upon an exchange of Debentures, Liberty Broadband, at its option, may deliver shares of Charter Class A common stock or the value thereof in cash or a combination of shares of Charter Class A common stock and cash. The offering is expected to close on August 27, 2020, subject to customary closing conditions.
Baker Botts Represented Liberty Broadband in the transaction.
Baker Botts Lawyers/Office Involved:
Corporate: Samantha Crispin (Partner, Dallas); Adorys Velazquez (Partner, New York); Catherine Gallagher (Partner, Washington, D.C.); Frederick McGrath (Partner, New York); Beverly Reyes (Partner, New York); John Johnston (Special Counsel, New York); Lee Davis (Senior Associate, Washington, D.C.); Jennifer Ybarra (Associate, Dallas); Henry Klimowicz (Associate, New York)
Finance: Robert Wann (Partner, New York)
For more information, please see Liberty Broadband’s news release here.
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.