Comcast is offering US$1.49bn of unsecured notes due 2046 to refinance existing debt and for working capital and general corporate purposes.
Comcast (NASDAQ:CMCSA) is offering US$1.49bn of unsecured notes due 2046 to refinance existing debt and for working capital and general corporate purposes.
The notes will be issued under a senior indenture dated 18 September 2013, bear interest of 4.6% per annum and mature on 1 February 2046, the US cable giant said in an SEC filing. They will rank equally with all of its and its guarantors’’ unsecured and subordinated debt.
Comcast plans to list the notes on the Taipei Exchange. They will be governed by the laws of the State of New York.
The cableco may redeem the notes, guaranteed by subsidiaries Comcast Cable Communications and NBCUniversal, in full but not in part, on each 1 February from 2018 at 100% of the principal amount plus interest.
Part of the proceeds will be used to repay a portion of the company’s outstanding commercial paper which, as of 20 November, had a weighted annual interest rate of about 0.44%.
The joint bookrunning managers for the transaction are E Sun Commercial Bank, MasterLink Securities and SinoPac Securities. The Bank of New York Mellon is trustee.