GCI Liberty Prices $600 Million Upsized Offering of New Senior Notes Due 2028

ENGLEWOOD, Colo.--(BUSINESS WIRE)--GCI Liberty, Inc. (Nasdaq: GLIBA, GLIBP) announced today that its wholly-owned subsidiary, GCI, LLC (the “Issuer”), has priced and agreed to sell to initial purchasers in an upsized private offering $600 million aggregate principal amount of new 4.750% senior notes due 2028 (the “2028 Notes”). The 2028 Notes will be unsecured obligations of the Issuer. The net proceeds of the offering, together with cash on hand and net proceeds from expected incremental borrowings under the Issuer’s senior credit facility, will be used to fund the redemption of all $450 million aggregate outstanding principal amount of the Issuer’s 6.875% Senior Notes due 2025 (the “2025 Notes”) and the redemption of all $325 million aggregate outstanding principal amount of the Issuer’s 6.625% Senior Notes due 2024 (the “2024 Notes”). The offering is expected to close on or about October 7, 2020, subject to customary closing conditions.