Time Warner Inc. Prices Debt Offering.NEW YORK -- Time Warner Inc. (NYSE NYSE See: New York Stock Exchange :TWX (TeletypeWriter eXchange Service) A U.S. and Canadian dial-up communications service that became part of Telex. In 1971, the Bell System sold TWX to Western Union. TWX transmitted 5-bit Murray code or 7-bit ASCII code at up to 150 bps. See Telex. ) today announced that it has priced a $5 billion underwritten public offering of debt securities, including $2 billion principal amount of floating rate notes due 2009, $1 billion principal amount of 5.50% notes due 2011, $1 billion principal amount of 5.875% notes due 2016 and $1 billion principal amount of 6.50% debentures due 2036. The net proceeds from the issuance of the debt securities will be used to refinance existing indebtedness and for general corporate purposes, including repurchases of Time Warner's common stock. The sale of the debt securities is expected to close on November 13, 2006. The debt securities will be issued by Time Warner Inc. and guaranteed by TW AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Holdings Inc. and Historic TW Inc. In addition, Time Warner Companies, Inc. and Turner Broadcasting System Turner Broadcasting System, Inc. (often abbreviated TBS Networks or TBS, inc.) is the company managing the collection of cable networks and properties started by Robert Edward "Ted" Turner from the mid-1970s to the late-1990s. , Inc. will guarantee the obligations of Historic TW Inc. under its guarantee. Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Barclays Capital, BNP Paribas Securities Corp. and RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) Greenwich Capital are joint book-running managers. Interested parties may obtain a written prospectus from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10019, Barclays Capital at 200 Park Avenue, New York, New York 10166, BNP Paribas Securities Corp. at 787 Seventh Avenue, New York, New York 10019 or RBS Greenwich Capital at 600 Steamboat steamboat: see steamship. steamboat or steamship Watercraft propelled by steam; more narrowly, a shallow-draft paddle-wheel steamboat widely used on rivers in the 19th century, particularly the Mississippi River and its tributaries. Road, Greenwich, Connecticut 06830. Time Warner has filed a registration statement on Form S-3 (including a prospectus) with the SEC for this offering. Interested parties should read the prospectus in that registration statement, the preliminary prospectus supplement for this offering and other documents Time Warner has filed with the SEC for more complete information about Time Warner and this offering. These documents are available at no charge by visiting EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. on the SEC Web site at www.sec.gov. Alternatively, these documents will be made available by any underwriter or dealer participating in the offering to interested parties who make a request by calling toll-free: Banc of America Securities LLC at (800) 294-1322, Barclays Capital at (888) 227-2275, extension 2663, BNP Paribas Securities Corp. at (800) 854-5674 or RBS Greenwich Capital at (866) 884-2071. 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 these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Time Warner Inc. Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion