NEW YORK
Cable TV provider Time Warner Cable Inc. said Tuesday that it had priced $1.9 billion worth of debt securities that it is making available in an underwritten public offering.
It said $700 million will bear an annual interest rate of 4.125 percent and mature in 2021. The remaining $1.2 billion will have an annual interest rate of 5.875 percent and mature in 2040.
The net proceeds are to be used for general corporate purposes, including possibly paying down existing debt and repurchasing stock.
The offering is expected to close Nov. 15.
Shares closed down 14 cents at $61.91 on Tuesday.
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