Company Website:
http://www.timewarner.com
NEW YORK -- (Business Wire)
Time Warner Inc. (NYSE:TWX) today announced that it has priced a $1.5
billion underwritten public offering of 3.60% senior notes due 2025 at a
price equal to 99.760% of their face amount and a $600 million
underwritten public offering of 4.85% debentures due 2045 at a price
equal to 99.929% of their face amount. The net proceeds from the
issuance of the notes and debentures will be used for general corporate
purposes, including share repurchases and the retirement at maturity of
Time Warner’s outstanding 3.15% Notes due 2015. The sale of the notes
and debentures is expected to close on June 4, 2015.
The notes and debentures 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 and
debentures 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 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. Citigroup Global Markets Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells
Fargo Securities, LLC are the active joint book-running managers for the
offering. Copies of the prospectus supplement and accompanying
prospectus may be obtained by contacting Citigroup Global Markets Inc.
at 800-831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated at
800-294-1322, Morgan Stanley & Co. LLC at 866-718-1649, and Wells Fargo
Securities, LLC at 800-645-3751. An electronic copy of the prospectus
supplement, together with the accompanying prospectus, is also available
on the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
notes, debentures and guarantees in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
ABOUT TIME WARNER INC.
Time Warner Inc., a global leader in media and entertainment with
businesses in television networks and film and TV entertainment, uses
its industry-leading operating scale and brands to create, package and
deliver high-quality content worldwide on a multi-platform basis.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management’s current expectations or beliefs,
and are subject to uncertainty and changes in circumstances. Actual
results may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive,
technological, strategic and/or regulatory factors and other factors
affecting the operation of Time Warner’s businesses. More detailed
information about these factors may be found in filings by Time Warner
with the SEC, including its most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q. Time Warner is under no
obligation, and expressly disclaims any such obligation, to update or
alter its forward-looking statements, whether as a result of new
information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006793/en/
Contacts:
Time Warner Inc.
Corporate Communications
Keith
Cocozza 212-484-7482
or
Investor
Relations
Michael Kopelman 212-484-8920
Michael Senno
212-484-5920
Source: Time Warner Inc.
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