Time Warner Commences Public Debt Offering

Time Warner Inc. said Tuesday it has commenced a public offering of senior debt, due 2027. The media company said it plans to use the proceeds from the offering for general corporate purposes, including the paying down debt. The notes will be issued by Time Warner, and guaranteed by Historic TW Inc., which is backed by Home Box Office Inc. and Turner Broadcasting System Inc. The amount of the offering was not disclosed. Time Warner's stock, which slipped 0.4% in light premarket trade, has run up 44% year to date through Monday, while the S&P 500 has gained 7.7%.