Deal Description: On November 19, 2020, Liberty Broadband Corporation (“Liberty Broadband”) announced that it has priced and agreed to sell to initial purchasers in an upsized private offering $750 million aggregate original principal amount of its 1.25% 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.
Liberty Broadband intends to use the net proceeds of the offering for general corporate purposes, which may include the repayment of indebtedness and repurchases of shares of Liberty Broadband common stock. The offering is expected to close on November 23, 2020, subject to the satisfaction of customary closing conditions.
Baker Botts represented Liberty Broadband Corporation in the offering.
Value: $750 Million
Baker Botts Lawyers/Office Involved:
Corporate: Samantha Crispin (Partner, Dallas); Adorys Velazquez (Partner, New York); Catherine Gallagher (Partner, Washington); Beverly Reyes (Partner, New York); Lee Davis (Associate, Washington, D.C.); Jennifer Ybarra (Associate, Dallas); Madeline Tusa (Associate, New York)
Tax: Tamar Stanley (Partner, Washington. D.C.); Josh Mandell (Partner, Dallas)
The full press release can be found here.
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