Updating a company charter
Charter said the reorganization had the support of 73 percent of the holders of its 11 percent senior secured notes due 2015 of CCH I and 52 percent of the holders of the 10.25 percent senior notes due 20 of CCH II.
Companies that commit to the Charter before then can, in the interim, use the main, generic Charter logo.
As of March 27, 2009, Charter had about 0 million in cash on hand and cash equivalents.
Consequently, Charter avoids the need for debtor-in-possession financing, which has become pricier and more difficult to negotiate because of tight credit markets.
O and Dish Network, both of whom competed fiercely for those same subscribers in rural areas.
Before the recent deterioration in the debt markets, Charter had been able to pay for or renew its debt, which totaled .7 billion at the end of 2008, it said in a court filing.