On Beverly Hills.

Hilton Central Hotel.

Behind the golden hall where the cocktail party is being held.

Wells Fargo and Time Warner senior executives are gathering together.

This group of people can be said to be the initiator and host of this cocktail party.

They collectively missed the lively evening party ahead.

It's because they're doing this party now, the real theme.

That is the sales of corporate bonds initiated by Time Warner.

Let’s talk about why corporate bonds were issued.

This has to be mentioned as Time Warner's various operations over the past 20 years.

Time Warner Co., Ltd., now known as Warner Media Group, is now one of the companies under AT&T, and is headquartered in New York City. It is the third highest-revenue entertainment company in the world after Comcast Group and Walt Disney Company, and was once the largest media group in the world.

Now, Time Warner's main business is film and television business, as well as limited publishing business. Its main assets include: Family Box Office Channel, Turner Broadcasting Company, CW TV Network, Warner Bros. Entertainment, Cable News Network and DC Comics; as of August 2016, Time Warner also owns a 10% stake in Hulu.com.

Why is this once the world's number one media empire not now?

Because over the past 20 years, this company has been continuously splitting and selling its own businesses, selling or splitting out assets such as Times, American Online, Time Warner Cable, Warner Books, Warner Music Group, etc.

It can be said that over the years, after becoming the largest overlord, Time Warner has been slowly destroying its various martial arts.

After this slutty operation.

Time Warner finally fell from the throne of the world's number one media giant, and no longer had the glory of the past, regardless of its revenue or scale.

After splitting or selling too many excellent assets, Time Warner's profitability is getting worse and worse.

So much so that he finally sold himself to AT&T, becoming the only company among several major media giants that is not its own independent company.

After AT&T spent more than 100 billion to buy Time Warner, it took on all the debts of Time Warner at that time.

But Time Warner still doesn't have enough money to spend. The revenue of TV in recent years is easy to say, but the movies are simply a mess.

I thought that after Disney's Marvel superheroes shine, Time Warner's own DC Comics superheroes could also get a share.

As a result, the box office was unsatisfactory, and the Justice League, which relied on Time Warner's hope, was even beaten by the Avengers.

You are the superhero library that is not inferior to Marvel, or the appearance of superheroes like Batman and Superman. As a result, both box office and reputation are lost to Marvel and they lose too badly.

Even the most image-friendly Superman and Batman they have chosen themselves have been kicked out by Time Warner.

Because Time Warner is short of money.

What to do if you are short of money?

Let’s ask the big boss AT&T for it! But the big boss said: Time Warner, you are a cheater, we are still paying back the debt you owed for more than 20 years, but we haven’t paid it clean yet!

Want money?

roll!

But if you have the ability, then borrow it yourself! You just need to pay attention to borrow your own money, but you must pay it back yourself!

What can Time Warner do?

I had to find a way to borrow money.

Borrow from the bank, borrow from the market!

If the bank borrows, Time Warner and Wells Fargo are already planning to raise funds.

Then borrow from the market.

Because it is already owned by AT&T, it is impossible to continue issuing stock financing, and the big boss AT&T will not agree.

If the path of additional stock financing is not feasible, then there is no way to go, and issue Time Warner's corporate bonds.

This is not the first time anyway.

If it was the first time, I wouldn't have owed so much debt before. Now the debts of the past have been contracted by the big boss AT&T.

Corporate bonds are bonds issued to the public by industrial and commercial enterprises in order to raise funds.

Many mainstream commercial countries in the world have such bonds, and they usually sell well.

In America, there are the following types of corporate bonds: unsecured bonds, secured bonds, first-tier mortgage bonds, convertible bonds, and interest-free bonds.

Tonight, Time Warner is preparing to issue medium-term unsecured bonds, which are issued for three years, and the interest is linked to the current mainstream standard medium-term corporate bonds.

In terms of bonds, the United States must be the world's largest debt-owed country. Not to mention the sensational 21.7 trillion national debt, even the corporate debts owed to society and the world, it has reached 9.1 trillion!

The two combined exceeds US$30 trillion.

Only such a number of hooligans can ow so much debt and have always been stable in the world.

But the result is.

It is becoming increasingly difficult to borrow money. Whether it is a country or a company, a little wise person will consider it more or less when he sees the exaggerated debt and be cautious.

Especially now that the US stock market is falling, futures are falling, sweater wars, war of words and other frictions are constantly occurring, in this chaotic moment.

However, Time Warner is going to issue its own corporate bonds, and it is not a good time to choose.

Time Warner had no choice but to find Wells Fargo, and after paying high interest and handling fees, Wells Fargo would help issue corporate bonds.

In the lounge behind the golden hall of the Central Hilton Hotel.

Wells Fargo vice president Alpha and senior manager John Mellon, as well as several other Wells Fargo executives.

With Time Warner President Jeff Bisk, several other managers, and representatives from the boss.

The issue of corporate bonds is being discussed.

"Does Time Warner expect the scale to be 2 billion US dollars? I think if this amount is not increased, it will be difficult to quickly sell it based on the current market conditions!"

"Of course. Wells Fargo has the world's broadest bond sales channels, and we are confident that we can sell them all. It may take a little longer in time."

"The market is very recession now, and many of the comments in the market are not optimistic. It is really much more difficult to borrow money when it is downward!"

“…”

Wells Fargo, led by Alpha and John Mellon, explained the difficulty and suggestions of issuing corporate bonds this time.

The hairstyle is about to be released.

After all, the reception was held, and hundreds of thousands of dollars were spent. For Time Warner, who was short of money, this was also a small amount of money!

Jeff Bisk hesitated for a moment.

He knew that Wells Fargo's suggestion made some sense. The market is so bad now that many boring guys are advocating that the financial crisis of 2008 and 2009 is coming again.
Chapter completed!