For the first time, Time Warner Cable is selling bonds in British pounds.
The nation’s second-largest cable operator said proceeds from the sterling denominated notes, which have a 20-year maturity, are expected to be used for general corporate purposes, which could include the repayment of debt.
The notes will be issued by Time Warner Cable and guaranteed by its subsidiaries TW NY Cable Holding and Time Warner Entertainment Co.
Barclays Bank, Deutsche Bank, London Branch, The Royal Bank of Scotland and UBS Limited are joint book-running managers.
According to a story by Bloomberg, Time Warner Cable is the first U.S. non-financial company to sell debt in pounds since Comcast Corp. raised 625 million pounds from 19-year bonds late last year.