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Time Warner Cable prices debt offering

Wed Jun 24, 2009 5:38 PM EDT
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Associated Press
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NEW YORK — Time Warner Cable Inc. said Wednesday it priced a $1.5 billion underwritten public offering of 6.75 percent debentures due 2039.

Time Warner Cable Inc. said Wednesday it plans to use the proceeds to repay part of the outstanding debt under its existing bank credit facilities.

The company expects the sale of the debt to close on June 29.

Shares of Time Warner Cable, which spun off from Time Warner Inc. in March, closed down 14 cents at $30.75.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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