Charter Communications Completes Cox Transaction; Adds Guarantors & Collateral

What Happened

• Charter Communications announced it completed the Transaction under the May 16, 2025 Transaction Agreement: on August 19, 2026 Charter acquired Cox Communications’ commercial fiber and managed IT & cloud services businesses, and Cox Enterprises contributed Cox’s residential cable business to Charter Communications Operating, LLC (CCO).
• In connection with closing, on August 24, 2026 Charter and certain Cox entities executed supplemental indentures and an assumption agreement (with Bank of America, N.A. as administrative agent) that add those Cox and Charter subsidiaries as guarantors and grant liens on substantially all of their assets and equity interests to secure obligations under Charter’s credit agreement and various indentures.

Key Details

• Closing date of the Transaction: August 19, 2026; supplemental guarantor and collateral agreements dated August 24, 2026.
• Affected debt documents: CCO Indenture (30th Supplemental), Cox Indenture (23rd Supplemental), TWC Indenture (11th Supplemental), TWCE Indenture (20th Supplemental) — all updated to add guarantors and collateral.
• Result: obligations under the CCO, TWC, TWCE and Cox indentures and the Charter Credit Agreement are now guaranteed and secured on a pari passu basis (same collateral and obligors).
• Trustee/collateral agent: The Bank of New York Mellon Trust Company, N.A.; administrative agent for the credit agreement: Bank of America, N.A.

Why It Matters

• For investors, the filing shows Charter’s combined capital structure now shares the same guarantors and collateral across multiple secured note series and the revolving/term credit facility. That creates pari passu security among these obligations, which affects how claims would be treated in a default or restructuring.
• The addition of Cox entities as guarantors and the granting of liens increases the pool of pledged assets backing Charter’s secured debt; this can be material to bondholders and credit analysts assessing recovery prospects and overall secured leverage.
• The filing reports structural and credit-protection changes (guarantors and liens) arising from the acquisition—no new equity issuance or operating financial results were reported in this 8-K.