• Most Popular
  • Most Shared

Time Warner Cable sells $2 bln of 5-, 10-year bonds

Thu Nov 13, 2008 4:10pm EST

Stocks

   

NEW YORK, Nov 13 (Reuters) - Time Warner Cable (TWC.N) on Thursday sold $2 billion of 5-year and 10-year bonds to help fund a special dividend of $10.9 billion, Thomson Reuters publication IFR reported.

Stocks  |  Bonds  |  Global Markets

The company sold $750 million in five-year notes priced at 99.849 to yield 8.291 percent, or 590 basis points over comparable U.S. Treasuries.

It sold $1.25 billion in 10-year bonds at 98.465 to yield 8.986 percent, or 525 basis points over Treasuries.

The dividend is part of the separation of Time Warner Cable from Time Warner Inc. (Reporting by Ciara Linnane; editing by Gary Crosse)

Stocks
Bonds
Global Markets


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets