Time Warner Begins Public Offering Of Up To $1 Bln Of Debt Securities

(RTTNews) - Time Warner Inc. (TWX) announced that it has commenced an underwritten public offering of up to $1.0 billion of debt securities split between senior notes due 2023 and senior debentures due 2043.

The company said that it will use the net proceeds from the issuance of the notes and debentures for general corporate purposes.

The notes and debentures 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 and debentures will be the same as the structure for the notes and debentures Time Warner has issued since 2010.