Charter Communications Holding Company, LLC
Offer to Exchange any and all of the $412,500,000 Principal
Amount Outstanding of
Charter Communications, Inc.s
5.875% Convertible Senior Notes due 2009
(CUSIP Nos. 16117MAE7 and 16117MAD9)
Dated September 14, 2007
This Offer will expire at 11:59 p.m., New York City
time, on Friday, September 27, 2007, unless extended or
earlier terminated (such date, as the same may be extended or
earlier terminated, the Expiration Date). Holders
(as defined below) must tender their Old Notes for exchange
on or prior to the Expiration Date to receive the Exchange
Consideration (as defined below).
September 14, 2007
To Our Clients:
Enclosed for your consideration is an Exchange Offer Prospectus,
dated September 14, 2007 (as the same may be amended from
time to time, the Exchange Offer Prospectus), and a
Letter of Transmittal (the Letter of Transmittal
and, together with the Exchange Offer Prospectus, the
Exchange Offer) relating to the offer by Charter
Communications Holding Company, LLC (the Offeror),
to pay up to $793,443,000 principal amount of
6.50% convertible senior notes due 2027 (the New
Notes) of Charter Communications, Inc.
(Charter) to holders (the Holders) of
any and all of Charters $412,500,000 principal amount
outstanding 5.875% convertible senior notes due 2009 (the
Old Notes) who elect to exchange their Old Notes
upon the terms and subject to the conditions set forth in the
Exchange Offer Prospectus. Capitalized terms used but not
defined herein shall have the meanings given to them in the
Exchange Offer Prospectus.
The Exchange Consideration per $1,000 principal
amount of Old Notes accepted for exchange will be an amount of
New Notes determined based on the Average Price (as defined
below) of Charters Class A common stock as set forth
in the table below. In addition to the Exchange Consideration,
the Offeror will pay accrued interest on the Old Notes from and
including the last interest payment date (which was May 16,
2007) up to, but not including, the Settlement Date.
Average Price means the arithmetic average of the
daily volume-weighted average price of Charters
Class A common stock for the ten trading days prior to and
including the second business day before the Expiration Date,
rounded to four decimal places. The initial conversion price for
the New Notes will be the Average Price multiplied by 1.3
(examples of which are set forth in the table below). The
initial conversion rate will be $1,000 divided by the conversion
price, rounded to four decimal places. If the Average Price is
between two prices shown in the table below, the principal
amount of New Notes to be issued per $1,000 principal amount of
Old Notes tendered will be calculated using straight-line
interpolation.
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Principal Amount of New |
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| Average Price of |
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Notes to be Issued per |
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Terms of the New Notes |
| Charters Class A |
|
$1,000 Principal Amount |
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| Common Stock |
|
of Old Notes Tendered |
|
Conversion Price |
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Conversion Rate |
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| $ |
2.00 |
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$ |
1,110.62 |
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$ |
2.60 |
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384.6154 |
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| $ |
2.20 |
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$ |
1,173.25 |
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$ |
2.86 |
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349.6503 |
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| $ |
2.40 |
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$ |
1,239.65 |
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$ |
3.12 |
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320.5128 |
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| $ |
2.60 |
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$ |
1,309.13 |
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$ |
3.38 |
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295.8580 |
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| $ |
2.80 |
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$ |
1,381.10 |
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$ |
3.64 |
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274.7253 |
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| $ |
3.00 |
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$ |
1,451.68 |
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$ |
3.90 |
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256.4103 |
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| $ |
3.20 |
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$ |
1,521.73 |
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$ |
4.16 |
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240.3846 |
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| $ |
3.40 |
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$ |
1,592.26 |
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$ |
4.42 |
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226.2443 |
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| $ |
3.60 |
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$ |
1,662.60 |
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$ |
4.68 |
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213.6752 |
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| $ |
3.80 |
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$ |
1,733.33 |
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$ |
4.94 |
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202.4291 |
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| $ |
4.00 |
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$ |
1,802.82 |
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$ |
5.20 |
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192.3077 |
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| $ |
4.20 |
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$ |
1,872.80 |
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$ |
5.46 |
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183.1502 |
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| $ |
4.35 |
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$ |
1,923.50 |
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$ |
5.66 |
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176.8347 |
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The Exchange Offer is conditioned on a minimum amount
$75,000,000 aggregate principal amount of Old Notes being
tendered. The Exchange Offer is also conditioned upon the
Average Price being more than or equal to $2.00 and less than or
equal to $4.35.
New Notes will be issued only in minimum denominations of $1,000
and integral multiples of $1,000. If, under the terms of the
Exchange Offer, any tendering Holder is entitled to receive New
Notes in a principal amount that is not an integral of $1,000,
the Offeror will round downward the amount of New Notes to the
nearest integral multiple of $1,000.
The Settlement Date in respect of any Old Notes that
are validly tendered for exchange and not validly withdrawn is
expected to be not later than the fourth business day following
the Expiration Date. Holders tendering their Old Notes for
exchange after 11:59 p.m., New York City time, on the
Expiration Date will not be eligible to receive the Exchange
Consideration.
The materials relating to the Exchange Offer are being forwarded
to you as the beneficial owner of Old Notes carried by us for
your account or benefit but not registered in your name. Any
tender of Old Notes for exchange may only be made by us as the
registered Holder and pursuant to your instructions. Therefore,
the Offeror urges beneficial owners of Old Notes registered in
the name of a broker, dealer, commercial bank, trust company or
other nominee to contact such registered Holder promptly if they
wish to tender Old Notes for exchange pursuant to the Exchange
Offer.
Accordingly, we request instructions as to whether you wish us
to tender your Old Notes for exchange with respect to any or all
of the Old Notes held by us for your account. Please so instruct
us by completing, executing and returning to us the instruction
form set forth below. If you authorize us to tender your Old
Notes for exchange, all such Old Notes will be tendered, unless
otherwise specified below. We urge you to read carefully the
Exchange Offer Prospectus and the Letter of Transmittal and the
other materials provided herewith before instructing us to
tender your Old Notes for exchange.
Your instructions should be forwarded to us sufficiently in
advance of the Expiration Date to permit us to tender your Old
Notes on your behalf and to ensure receipt by the Exchange Agent
of the Letter of Transmittal and other required documents by the
Expiration Date. The Exchange Offer will expire at
11:59 p.m., New York City time, on Wednesday,
September 27, 2007, unless extended or earlier terminated.
Holders must tender their Old Notes for exchange prior to
11:59 p.m., New York City time, on the Expiration Date to
receive the Exchange Consideration.
Old Notes tendered for exchange may be validly withdrawn at any
time up until 11:59 p.m., New York City time, on the
Expiration Date. In addition, even after the Expiration Date, if
the Offeror has not accepted for payment any validly tendered
Old Notes, such Old Notes may be withdrawn 60 days after
commencement of the Exchange Offer. In the event of a
termination of the Exchange Offer, the Old Notes tendered for
exchange pursuant to the Exchange Offer will be promptly
returned to the tendering Holders.
Your attention is directed to the following:
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1. If you desire to tender Old Notes for exchange pursuant
to the Exchange Offer and to receive the Exchange Consideration,
we must receive your instructions in ample time to permit us to
tender your Old Notes for exchange on your behalf on or prior to
11:59 p.m., New York City time, on the Expiration Date. |
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2. Notwithstanding any other provision of the Exchange
Offer, the Offerors obligation to accept Old Notes
tendered for exchange and to pay the related Exchange
Consideration is subject to, and conditioned upon, the
satisfaction of or, where applicable, the Offerors waiver
of, the conditions to the Exchange Offer as set forth in the
Exchange Offer Prospectus under the caption Description of
the Exchange Offer Conditions to the Exchange
Offer. The Offeror reserves the right, in its sole
discretion, to waive any one or more of the conditions to the
Exchange Offer at any time as set forth in the Exchange Offer
Prospectus under the caption Description of the
Exchange Conditions to the Exchange Offer. |
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3. If you wish to have us tender for exchange any or all of
your Old Notes held by us for your account or benefit, please so
instruct us by completing, executing and returning to us the
instruction form that appears below. The accompanying Letter of
Transmittal is furnished to you for informational purposes only
and may not be used by you to tender for exchange Old Notes held
by us and registered in our name for your account. |
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INSTRUCTIONS
The undersigned acknowledge(s) receipt of your letter and the
enclosed material referred to therein relating to the Exchange
Offer of the Offeror with respect to the Old Notes.*
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Tender for exchange the principal amount of Old Notes indicated
below held by you for the account or benefit of the undersigned
pursuant to the terms of and conditions set forth in the
Exchange Offer Prospectus, dated September 14, 2006 and the
related Letter of Transmittal.**
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Aggregate Principal Amount of 5.875%
Convertible Senior Notes due 2009
beneficially owned which are being
tendered for
exchange: ____________________________________________________________ |
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Do not tender for exchange any Old Notes held by you for the
account or benefit of the undersigned. |
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* |
If neither box is checked, but the undersigned has completed the
section below, we are authorized to tender for exchange with
respect to the aggregate principal amount of such Old Notes in
which we hold an interest through DTC for your account. |
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If no aggregate principal amount is provided above with respect
to the Old Notes and this Instruction Form is signed in the
space provided below, we are authorized to tender for exchange
with respect to the entire aggregate principal amount of such
Old Notes in which we hold an interest through DTC for your
account. |
PLEASE SIGN HERE
Signature
(s) ____________________________________________________________________________________________________
Name(s) (Please
Print) ________________________________________________________________________________
Address ____________________________________________________________________________________________________
Zip
Code ____________________________________________________________________________________________________
Area Code and Telephone
No. ____________________________________________________________________________________________________
Tax Identification or Social Security
No. ____________________________________________________________________________________________________
My Account Number With
You ____________________________________________________________________________________________________
Date ____________________________________________________________________________________________________
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