June 25, 2009 (FinancialWire) — Time Warner Cable Inc. (NYSE: TWC) has priced a $1.5 billion public offering of 63/4% debentures due 2039. The sale is scheduled to close on June 29.

The company said it plans to use the net proceeds to repay a portion of the amounts outstanding under Time Warner Cable’s existing bank credit facilities.

New York-based Time Warner Cable is a cable operator in the U.S. with systems located mainly New York State, the Carolinas, Ohio, southern California and Texas. Overall, the company serves customers in 28 states.

As of September 30, 2008, Time Warner Cable served around 14.7 million customers who subscribed to one or more of its video, high-speed data and voice services.

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