Time Warner Inc. Announces Redemption Of All Remaining 5.875% Notes Due 2016
July 31 2015 - 10:17AM
Business Wire
Time Warner Inc. (NYSE: TWX) today announced that it intends to
redeem $312,908,000 of its 5.875% Notes due 2016 (the “Notes”),
representing all remaining Notes outstanding after the expiration
on June 3, 2015 of the previously announced tender offer for the
Notes. The redemption will be made in accordance with the terms of
the indenture governing the Notes and the terms of the notice of
redemption.
Time Warner expects the Notes to be redeemed on August 31, 2015
(the “Redemption Date”) at a redemption price (the “Redemption
Price”) equal to the greater of (i) 100% of their principal amount
and (ii) the sum of the present values of the remaining scheduled
payments of principal and interest thereon (exclusive of interest
accrued to the Redemption Date), discounted to the Redemption Date
on a semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the treasury rate plus 30 basis points, plus, in
either case, accrued and unpaid interest to, but not including, the
Redemption Date. The treasury rate will be determined in accordance
with the terms of the Notes prior to the Redemption Date.
A notice of redemption is being mailed to all registered holders
of the Notes. Copies of the notice of redemption may be obtained
from The Bank of New York Mellon by calling 1-800-254-2826.
This announcement is for informational purposes only and is not
an offer to purchase or sell or a solicitation of an offer to
purchase or sell, with respect to any securities.
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 STATEMENTS
This document includes 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 the
businesses of Time Warner Inc. More detailed information about
these factors may be found in filings by Time Warner with the
Securities and Exchange Commission, 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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version on businesswire.com: http://www.businesswire.com/news/home/20150731005494/en/
Time Warner Inc.Corporate
CommunicationsKeith Cocozza 212-484-7482orInvestor RelationsMichael Kopelman
212-484-8920Michael Senno 212-484-8950
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