Time Warner Cable Raises $2.25B

Time Warner Cablehas raised $2.25 billion through a two-part sale of senior notes,The Wall Street Journalreports. The company will utilize the proceeds for general corporate purposes, which could include the repayment of outstanding debt securities.

The first tranche of $1 billion notes, which carry a coupon rate of 4 percent, will mature in 10 years, while the second tranche of $1.25 billion notes, carrying a coupon rate of 5.50 percent, will mature in 30 years.Bank of America Merrill Lynch,Goldman SachsandJP Morgan Chase & Co.were the active bookrunners.

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