Advertisement
News
Advertisement

TWC’s target for debt sale: $5B

Tue, 06/17/2008 - 8:45am
Brian Santo

Time Warner Cable (TWC) provided details about its debt offering, including the target amount of financing that it hopes to attract: $5 billion.

The debt securities TWC is offering include $1.5 billion aggregate principal amount of 6.2 percent notes, due 2013; $2 billion aggregate principal amount of 6.75 percent notes, due 2018; and $1.5 billion aggregate principal amount of 7.3 percent debentures, due 2038.

The net proceeds from the issuance of the debt securities are expected to be used to finance, in part, a one-time cash dividend to stockholders of TWC to be paid just prior to the previously announced separation of TWC from its parent company, Time Warner Inc.

TWC has filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (SEC) for this offering.

On Monday, TWC announced that it planned to raise money, in part for a one-time dividend to stockholders when it splits from Time Warner Inc., but the MSO did not specify a target amount it would like to raise, nor did it specify for what other purposes it might use the cash (story here).

More Broadband Direct:

• Verizon targets SMBs for FiOS service

• TWC's target for debt sale: $5B

• Scopus to demo Integrated Receiver Processor at Expo

• EGT to demo VIPr transcoder at Expo

• Allot allies with PeerApp, Qosmos

• Verimatrix bows mobile TV platform for pay-TV ops

• Acme Packet, MetaSwitch reel in customers for joint offering

• Alcatel-Lucent to buy partner Motive

• Brightcove 3 set to launch in fall

• Tellabs ups OAM&P abilities of carrier Ethernet

• Broadband Briefs for 6/17/08

Advertisement

Share This Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading