Monday, November 8, 2010

Time Warner Cable Prices a $1.9 Billion Debt Offering

Time Warner Cable priced a $1.9 billion underwritten public offering of debt securities, including $700 million aggregate principal amount of 4 1/8% notes due 2021 and $1.2 billion aggregate principal amount of 5 7/8% debentures due 2040. The company said net proceeds would be used for general corporate purposes, which may include the repayment of debt and the repurchase of the company's common stock. The sale of the debt securities is expected to close on November 15, 2010.