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TIME WARNER ENTERTAINMENT ANNOUNCES $1 BILLION DEBT FINANCING

 NEW YORK, March 29 /PRNewswire/ -- Time Warner Inc. (NYSE: TWX) announced today that Time Warner Entertainment Co., L.P. has sold $1 billion of 8-3/8 percent senior debentures due 2023.
 The company said the proceeds of the financing will be used to reduce Time Warner Entertainment's bank debt.
 The sale of $1 billion of long-tern senior debt was completed through a private placement in which the initial purchasers were Salomon Brothers Inc and Bear, Stearns & Co. Inc.
 Time Warner Entertainment Company, L.P., a limited partnership, is principally comprised of Time Warner's filmed entertainment, HBO programming and cable businesses.
 Time Warner Inc. is the world's leading media and entertainment company, with interests in magazine and book publishing, recorded music and music publishing, filmed entertainment, cable television and cable television programming.
 -0- 3/29/93
 /CONTACT: Edward Adler of Time Warner, 212-484-6630/
 (TWX)


CO: Time Warner Inc.; Time Warner Entertainment Co., L.P. ST: New York IN: ENT SU: FNC

SH -- NY022 -- 0373 03/29/93 09:22 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 29, 1993
Words:169
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