Media Industry
Industry: Email Alert RSS FeedUS West sets $4.1 billion debt offering. (US West Media Group and Baby Bell US West Communications)(Brief Article)
Broadcasting & Cable, January, 1997
DENVER--The financing arm of US West Inc., parent of cable power US West Media Group and Baby Bell US West Communications, last week set a U.S. record with a $4.1 billion debt offering. The offering, which is rated Baal/BBB-plus, supplants last year's $3.5 billion offering by Lockheed Martin Corp. as the biggest investment-grade offering.
The size of the offering (which US West increased three times from the original $2 billion), prompted speculation that US West may be gearing up to buy a big chunk of Time Warner Entertainment's (TWE) cable operations.
But analysts suggest that the debt offering and US West efforts to buy a controlling interest in TWE weren't necessarily connected. "I didn't read anything into that about Time Warner," says John...
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