Time Warner Prices $1 Bln Debt Offering - Quick Facts

(RTTNews) - Time Warner Inc. (TWX) announced that it has priced $1.0 billion debt offering. The company expects to close the sale of notes and debentures on December 16, 2013. The company plans to use offering net proceeds for general corporate purposes.

The company has priced $500 million underwritten public offering of 4.05% senior notes due 2023 at a price equal to 99.699% of their face amount and a $500 million underwritten public offering of 5.35% debentures due 2043 at a price equal to 99.941% of their face amount.

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.