Time Warner Cable sets $650M debt offering
Time Warner Cable is planning to raise up to $650 million dollars, which it said it intends to use for general business purposes, including the repayment of current debt.
The company has registered to sell 5.25 percent notes due 2042. The issuance and sale of the notes is expected to close on June 27.
The notes will be issued by Time Warner Cable and guaranteed by its subsidiaries TW NY Cable Holding and Time Warner Entertainment Co.
Barclays Bank, Deutsche Bank, London Branch, The Royal Bank of Scotland, Lloyds TSB Bank and UBS Limited are the book-running managers.