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Time Warner Cable prices $1.25B debt offering

NEW YORK (AP) -- Time Warner Cable Inc. said Tuesday that it has priced a public debt offering of $1.25 billion in 4.5 percent debentures due in 2042.

It plans to use the proceeds for general corporate purposes, including the repayment of debt.

The New York-based company, which owns Warner Bros., HBO, CNN, Time and People magazines and other media properties, said it plans to close the sale of the debentures on Aug. 10.