Cypress Creek Consulting Advises Charter Communications on Inaugural Securitization Financing Facility

In its second quarter earnings release, Charter announced that in June 2024, a bankruptcy remote special purpose vehicle and consolidated subsidiary of the Company, CCO EIP Financing, LLC, (the "SPV Borrower") entered into a senior secured revolving credit facility to finance the purchase of equipment installment plan receivables ("EIP Receivables") with a number of financial institutions (the "EIP Financing Facility"). Borrowings under the EIP Financing Facility are secured by the EIP Receivables transferred to the SPV Borrower, future collections on such EIP Receivables, and related assets consisting primarily of restricted cash.

"Cypress Creek congratulates the entire Charter team on the successful closing of this transaction and its added liquidity," said Nicholas Schrider, CEO at Cypress Creek.

"Charter hired Cypress Creek Consulting to help structure and launch our inaugural securitization financing facility," said Scott Schwartz, GVP, Corporate Finance & Treasurer at Charter Communications. "They provided hands-on support throughout the lifecycle of the transaction, including internal preparedness, data mapping, lender negotiations, structuring, and operational buildout. They helped us navigate the intricacies of our portfolio and delivered sound strategy and efficient execution. The Cypress Creek team are true subject matter experts."

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