Time Warner (TWX) to Offer Senior Notes

November 29, 2016 9:02 AM EST

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Time Warner Inc. (NYSE: TWX) today announced that it has commenced an underwritten public offering of senior notes due 2027 of benchmark size. The net proceeds from the issuance of the notes will be used for general corporate purposes, including the repayment of indebtedness.

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

The offering is being made pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (“SEC”). Interested parties should read the prospectus included in such registration statement and the preliminary prospectus supplement for the offering and other documents that Time Warner has filed with the SEC for more complete information about Time Warner and the offering.

The offering is being made only by means of a prospectus and a related prospectus supplement. Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA Inc., and Wells Fargo Securities, LLC are the active joint book-running managers for the offering. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting Barclays Capital Inc. at 888-603-5847, Citigroup Global Markets Inc. at 800-831-9146, Mizuho Securities USA Inc. at 866-271-7403 and Wells Fargo Securities, LLC at 800-645-3751. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is also available on the SEC’s website, www.sec.gov.

Time Warner is also launching cash tender offers today to purchase certain outstanding debentures of Time Warner and/or its subsidiaries.



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