Telewest to tap US bond buyers

The UK cable company Telewest yesterday signalled that it will borrow in the US to fund its purchase earlier this year of SBC CableComms and to help finance further development of its cable network. The move, which was expected, underlined British resistance to investing in the cable industry.

Telewest plans to raise a net $775m from two issues of senior debentures of $200m and $600m.