Liberty Broadband Corporation’s $750 Million Notes Offering


Baker Botts LLP advised Liberty Broadband Corporation on the deal.

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.

The Baker Botts team included Samantha Crispin (Picture), 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), Tamar Stanley (Partner, Washington. D.C.) and Josh Mandell (Partner, Dallas).

Involved fees earner: Catherine Gallagher – Baker Botts; Samantha Hale Crispin – Baker Botts; Josh Mandell – Baker Botts; Beverly Reyes – Baker Botts; Tamar Stanley – Baker Botts; Madeline Tusa – Baker Botts; Adorys Velazquez – Baker Botts; Jennifer Ybarra – Baker Botts;

Law Firms: Baker Botts;

Clients: Liberty Broadband Corporation;

Author: Ambrogio Visconti