Erik Gruenwedel
March 30, 2020
With its businesses drastically impacted by the coronavirus pandemic, ViacomCBS has become the latest media company going to the markets looking for fiscal relief — agreeing to sell $2.5 billion in new debt to help its operations weather the storm.
The corporate parent to Paramount Pictures, CBS All Access, Noggin and Pluto TV, among other properties, sold $1.25 billion in aggregate principal amount of 4.750% senior notes due 2025, and $1.25 billion in aggregate principal amount of 4.950% senior notes due 2031. The sale of the bond debt is expected to close on April 1.
Follow us on Instagram
ViacomCBS said intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of outstanding indebtedness.
Subscribe HERE to the FREE Media Play News Daily Newsletter!
Related Posts
Netflix Seeks Another $2 Billion in DebtWhat’s $8 billion in debt? Netflix Oct. 22 announced that it intends to offer, subject to market and other considerations, about $2 billion in bonds through two series of notes to qualified institutional buyers. The interest rate, redemption provisions, maturity date…
Netflix Ups Long-Term Debt by $2 BillionNetflix Oct. 21 announced that it intends to offer, subject to market and other considerations, about $2 billion worth of bonds to institutional buyers. The interest rate, redemption provisions, maturity date and other terms of each series of notes will be determined…
Comcast Selling $4 Billion in New Bonds (Debt)Comcast is taking a fiscal page from Disney's playbook and not waiting for Congress to bail out its struggling business segments. The media giant March 25 disclosed it is selling $4 billion in new bonds (long-term debt) that mature in…
-
