Charter Files Exchange Offer With SEC

ST. LOUIS (AP) -- Cable operator Charter Communications Inc. said Wednesday it filed a registration statement with the Securities and Exchange Commission for an exchange offer of up to $309 million of its convertible senior notes.

The 5.875 percent notes, which have a principal amount outstanding of $413 million, are due in 2009.

The company said Charter Communications Holding Co. LLC is offering up to $595 million principal amount of new 7 percent convertible senior notes due in 2027 in exchange for up to $309 million principal amount of the company's existing notes.

The offer is valid for existing notes tendered for exchange before Sept. 26.

Charter said Charter Communications Holding will also pay accrued interest on the existing notes from and including May 16.

Shares rose 3 cents to $2.65 in electronic premarket trading. The shares closed at $2.62 Tuesday.