Time Warner Inc. Prices $800 Million Debt Offering
May 05 2016 - 8:01PM
Business Wire
Time Warner Inc. (NYSE:TWX) today announced that it has priced
an $800 million underwritten public offering of 2.95% senior notes
due 2026 at a price equal to 98.702% of their face amount. The net
proceeds from the issuance of the notes will be used for general
corporate purposes. The sale of the notes is expected to close on
May 10, 2016.
The notes 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 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 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.,
Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated and Mizuho Securities USA Inc. are
the active joint book-running managers for the offering. Copies of
the prospectus supplement and accompanying prospectus may be
obtained by contacting Citigroup Global Markets Inc. at
800-831-9146, Credit Agricole Securities (USA) Inc. at
866-807-6030, Merrill Lynch, Pierce, Fenner & Smith
Incorporated at 800-294-1322 and Mizuho Securities USA Inc. at
866-271-7403. An electronic copy of the 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 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 STATEMENTS
This 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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version on businesswire.com: http://www.businesswire.com/news/home/20160505006809/en/
Time Warner Inc.Corporate
CommunicationsKeith Cocozza 212-484-7482orInvestor RelationsMichael Kopelman
212-484-8920orMichael Senno 212-484-8950
Time Warner (NYSE:TWX)
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