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Time Warner Sells $2B In Notes

U.S. entertainment conglomerate, Time Warner, has raised $2 billion through a two part sale of senior secured notes.

U.S. entertainment conglomerate, Time Warner, has raised $2 billion through a two part sale of senior secured notes, Reuters reports. The first tranche of notes worth $1 billion, which carry a coupon rate of 4.75%, will be due on March 29, 2021.

The second $1 billion tranche, which carries a coupon rate of 6.25%, will mature on March 29, 2041. The joint book-running managers for the sale were Bank of America Merrill Lynch, BNP Paribas, RBS and Wells Fargo.

Click here for the story from Reuters.

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