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Time Warner Cable Prices a $1.9 Billion Debt Offering

^{Published on 2010-11-09 20:20:46 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Time Warner Cable Inc. (NYSE:TWC) today announced that it has 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 net proceeds from the issuance of the debt securities are expected to be used for general corporate purposes, which may include the repayment of debt and the repurchase of the Companya™s common stock. The sale of the debt securities is expected to close on November 15, 2010.

The debt securities will be issued by Time Warner Cable Inc. and guaranteed by its subsidiaries TW NY Cable Holding Inc. and Time Warner Entertainment Company, L.P. BNP Paribas Securities Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and RBS Securities Inc. are active joint book-running managers.

Time Warner Cable has filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (aSECa) for this offering. Interested parties should read the prospectus in that registration statement, the preliminary prospectus supplement for this offering and the other documents that Time Warner Cable has filed with the SEC that are incorporated by reference into the preliminary prospectus supplement for more complete information about Time Warner Cable and this offering. These documents are available at no charge by visiting EDGAR on the SEC Web site at [ www.sec.gov ]. Alternatively, copies of the prospectus and preliminary prospectus supplement relating to the offering will be made available by any underwriter or dealer participating in the offering to interested parties who make a request by contacting BNP Paribas Securities Corp., Attention: Prospectus Department, 787 Seventh Avenue, New York, NY 10019, (800) 854-5674; Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58^th Street, 8^th Floor, Brooklyn, New York 11220, (877) 858-5407; Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014, (866) 718-1649; and RBS Securities Inc., Attention: Debt Capital Markets Syndicate, 600 Washington Boulevard, Stamford, Connecticut, (866) 884-2071.

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 these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Caution Concerning Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on managementa™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 operations of Time Warner Cable. More detailed information about these factors may be found in filings by Time Warner Cable with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Time Warner Cable is under no obligation to, 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.