You will be redirected back to your article in seconds

TW prices $ 2 bil debt offering

Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013.

The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 principal amount at maturity.

That is equivalent to an initial conversion price of $ 48 a share of Time Warner common stock. The closing stock price of Time Warner was $ 37.25 a share on June 15.

The gross proceeds of the offering will be about $ 782 million, and will be used together with available cash and equivalents to redeem or otherwise acquire a like principal amount of Time Warner’s 8 3/4% convertible subordinated debentures due 2015.

More Biz

  • Bill OReilly Roger Ailes Sexual Harrassment

    Bill O'Reilly, Roger Ailes Still Loom Over Fox's Business (Analysis)

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

  • Éric Salvail Suspends Career After Sexual

    Quebec Radio Star and Producer On Leave Over Sexual Harassment Allegations

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

  • Roy Price

    Harvey Weinstein Fallout: Entertainment Figures Accused of Sexual Harassment

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

  • Harvey Weinstein

    Colony Capital Has Three-Week Window to Avert Weinstein Co. Bankruptcy (EXCLUSIVE)

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

  • Mark Baker Warner Music Group

    Warner Music Group Names Mark Baker VP of Public Policy & Government Affairs

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

  • David Blaine Rape

    David Blaine Accused of Rape by Former Model

    Time Warner Inc. Wednesday priced its convertible debt offering of $ 2.1 billion (principal amount at maturity) of Liquid Yield Option Notes (LYONs), due 2013. The notes will be convertible at the option of the holder for shares of common stock of the company at the rate of 7.759 Time Warner shares per $ 1,000 […]

More From Our Brands

Access exclusive content