US cable giant Comcast Corporation has issued two tranches of notes totalling US$2.25bn to repay two other bonds.
The first tranche is US$1.25bn at 4.650% due 2042, priced at 99.918 to yield 4.655%. The second tranche is for US$1bn with a coupon of…
US cable giant Comcast Corporation has issued two tranches of notes totalling US$2.25bn to repay two other bonds.
The first tranche is US$1.25bn at 4.650% due 2042, priced at 99.918 to yield 4.655%. The second tranche is for US$1bn with a coupon of 3.125% due 2022, priced at 99.914 to yield 3.135%.
In an SEC filing Comcast said it would use the proceeds for working capital and general corporate purposes, but also singled out two bonds – 6.625% senior notes due May 2056 with US$575m outstanding, 10.625% senior notes due July 2012 with US$202m outstanding – that it would repay in July.
Comcast expects the notes to be rated Baa1 by Moody’s and BBB+ by both Fitch and S&P.
The joint book-running managers are BNP Paribas, Citigroup Global Markets, Merrill Lynch and Wells Fargo Securities.
