Time Warner Cable (TWC) Announces Debt Offering
Time Warner Cable Inc. (NYSE: TWC) announced that it has commenced an underwritten public offering of one series of debt securities with a 30-year maturity. The net proceeds from the issuance of the debt securities are expected to be used to repay a portion of the amounts outstanding under Time Warner Cable's existing bank credit facilities.
The debt securities will be issued by Time Warner Cable Inc. and guaranteed by its subsidiaries, TW NY Cable Holding Inc. and Time Warner Entertainment Company, L.P. Banc of America Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Mitsubishi UFJ Securities (USA), Inc. are joint book-running managers.
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