Loan & DebtMay 14, 2026, 04:22 PM
Liberty Broadband secures $359M loan from Charter; subsidiary gets margin loan waiver
AI Summary
Liberty Broadband Corporation entered into a Loan Agreement with Charter Communications, Inc. on May 12, 2026, securing an initial term loan of approximately $359 million. This loan, along with proceeds from Charter's share repurchases, was used to repay $617 million of a subsidiary's margin loan facility. Additionally, on May 14, 2026, a Liberty Broadband subsidiary obtained a limited waiver from its lenders regarding adjustments to its margin loan agreement following certain share price events, effective for six months or until the merger agreement terminates.
Key Highlights
- Liberty Broadband secured an initial term loan of approximately $359 million from Charter Communications.
- The loan bears interest at Term SOFR plus a 2.00% margin.
- The loan matures on the earlier of six months after the Merger Agreement's Drop Dead Date or its termination date.
- The $359 million loan, combined with other proceeds, repaid $617 million of a subsidiary's margin loan facility.
- A subsidiary received a limited waiver on its margin loan agreement from lenders, effective for six months.