New York, May 5 – Time Warner Inc. priced an $800 million offering of 10-year senior notes (Baa2/BBB) with a 2.95% coupon at 98.702, according to a news release.
Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., BofA Merrill Lynch and Mizuho Securities USA Inc. are the joint bookrunning managers.
The notes will be guaranteed by Historic TW Inc. In addition, Home Box Office, Inc. and Turner Broadcasting System, Inc. will guarantee Historic TW’s guarantee of the notes.
Full details were not available at press time.
Proceeds will be used for general corporate purposes.
The media company is based in New York.
| Issuer: | Time Warner Inc.
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| Issue: | Notes
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| Amount: | $800 million
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| Maturity: | 2026
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| Coupon: | 2.95%
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| Price: | 98.702
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Bookrunners: | Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., BofA Merrill Lynch and Mizuho Securities USA Inc.
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| Ratings: | Moody’s: Baa2
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| S&P: BBB
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| Distribution: | Off shelf
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