Time Warner Inc. Prices €700 Million Debt Offering
July 21 2015 - 4:29PM
Business Wire
Time Warner Inc. (NYSE:TWX) today announced that it has priced a
€700 million underwritten public offering of 1.95% notes due 2023
at a price equal to 99.519% 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 July 28,
2015.
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. Barclays Bank PLC, BNP Paribas,
Citigroup Global Markets Limited and Deutsche Bank AG, London
Branch are the active joint book-running managers for the offering.
Copies of the prospectus supplement and accompanying prospectus may
be obtained by contacting Barclays Bank PLC at 1-888-603-5847, BNP
Paribas at 1-800-854-5674, Citigroup Global Markets Limited at
1-800-831-9146 or Deutsche Bank AG, London Branch at
synops@list.db.com. 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/20150721006610/en/
Time Warner Inc.Corporate
CommunicationsKeith Cocozza 212-484-7482orInvestor RelationsMichael Kopelman
212-484-8920Michael Senno 212-484-5920
Time Warner (NYSE:TWX)
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