AOL increases bond sale to ease short-term debts

AOL Time Warner, the US media group, became the latest US corporate to use proceeds from a jumbo bond sale to reduce its short-term debt pressures.

AOL Time Warner took advantage of continued strong demand for corporate debt by upping its bonds issue to $6bn (€6.7bn) from $4bn - and said it would use all of the cash to pay down debt.

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