Time Warner planning benchmark 10-, 30-year bond offering Thursday

By Aleesia Forni

Virginia Beach, May 28 – Time Warner Inc. is set to price a bond offering (Baa2/BBB/) in two tranches on Thursday, according to an informed source and a 424B3 filed with the Securities and Exchange Commission.

The company’s sale includes notes due 2025 talked in the 160 basis points area over Treasuries and debentures due 2045 talked in the 200 bps area over Treasuries.

BofA Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the joint bookrunners.

The notes will be guaranteed by Historic TW Inc.

Proceeds will be used for general corporate purposes, including share repurchases and the retirement of its outstanding 3.15% notes due 2015.

The media company is based in New York.

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