Time Warner Inc. (NYSE:TWX) today announced that it has commenced an
underwritten public offering of debt securities consisting of senior
notes due 2026 of benchmark size and 4.85% Debentures due 2045
(“additional debentures”). The additional debentures constitute an
additional issuance of, will form a single series with, will have the
same terms and CUSIP number as, and will trade interchangeably with, the
outstanding 4.85% Debentures due 2045 issued by Time Warner on June 4,
2015. The net proceeds from the issuance of the notes and additional
debentures will be used for general corporate purposes.
The notes and additional 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 additional 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 preliminary 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. Barclays Capital Inc., Citigroup Global Markets
Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are
the active joint book-running managers for the offering. Copies of the
preliminary prospectus supplement and accompanying prospectus may be
obtained by contacting Barclays Capital Inc. at 888-603-5847, Citigroup
Global Markets Inc. at 800-831-9146, Deutsche Bank Securities Inc. at
800-503-4611, and J.P. Morgan Securities LLC at 212-834-4533. An
electronic copy of the preliminary 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, additional 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.
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