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Article: Time Warner Cable Inc. Announces Debt Offering.
- Article from:
- Investment Weekly News
- Article date:
- April 11, 2009
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Time Warner Cable Inc. (NYSE:TWC) announced that it has commenced an underwritten public offering of debt securities with maturities of 5 and 10 years. The net proceeds from the issuance of the debt securities are expected to be used to repay all of the borrowings outstanding under a $1.932 billion senior unsecured term loan facility, which the Company used to fund, in part, a special cash dividend to stockholders of Time Warner Cable that was paid on March 12, 2009. The Company will use any proceeds in excess of that amount for general corporate purposes, including the repayment of debt.
The debt securities will be issued by Time Warner Cable Inc. and guaranteed ...