Time Warner Inc. Announces Proposed Debt Offering
May 28 2015 - 09:18AM
Business Wire
Time Warner Inc. (NYSE:TWX) today announced that it has
commenced an underwritten public offering of debt securities
consisting of senior notes due 2025 and senior debentures due 2045,
each of benchmark size. The net proceeds from the issuance of the
notes and debentures will be used for general corporate purposes,
including share repurchases and the retirement at maturity of Time
Warner’s outstanding 3.15% Notes due 2015.
The notes and debentures will be issued by Time Warner and
guaranteed by Historic TW Inc. In addition, Home Box Office, Inc.
and Turner Broadcasting System, Inc. will guarantee the obligations
of Historic TW Inc. under its guarantee. The guarantee structure
for the notes and debentures will be the same as the structure for
the notes and debentures Time Warner has issued since 2010.
The offering is being made pursuant to an effective registration
statement on Form S-3 filed with the Securities and Exchange
Commission (“SEC”). Interested parties should read the prospectus
included in such registration statement and the preliminary
prospectus supplement for the offering and other documents that
Time Warner has filed with the SEC for more complete information
about Time Warner and the offering.
The offering is being made only by means of a prospectus and a
related prospectus supplement. Citigroup Global Markets Inc.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC are the
active joint book-running managers for the offering. Copies of the
preliminary prospectus supplement and accompanying prospectus may
be obtained by contacting Citigroup Global Markets Inc. at
800-831-9146, Merrill Lynch, Pierce, Fenner & Smith
Incorporated at 800-294-1322, Morgan Stanley & Co. LLC at
866-718-1649, and Wells Fargo Securities, LLC at 800-645-3751. An
electronic copy of the preliminary prospectus supplement, together
with the accompanying prospectus, is also available on the SEC’s
website, www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
notes, debentures and guarantees in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
ABOUT TIME WARNER INC.Time Warner Inc., a global leader
in media and entertainment with businesses in television networks
and film and TV entertainment, uses its industry-leading operating
scale and brands to create, package and deliver high-quality
content worldwide on a multi-platform basis.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTSThis
document contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management’s current expectations or
beliefs, and are subject to uncertainty and changes in
circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to changes in
economic, business, competitive, technological, strategic and/or
regulatory factors and other factors affecting the operation of
Time Warner’s businesses. More detailed information about these
factors may be found in filings by Time Warner with the SEC,
including its most recent Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q. Time Warner is under no obligation,
and expressly disclaims any such obligation, to update or alter its
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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Corporate CommunicationsKeith
Cocozza 212-484-7482orInvestor
RelationsMichael Kopelman 212-484-8920orMichael Senno
212-484-8950
Time Warner (NYSE:TWX)
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