ViacomCBS Sells $2.5 Billion in New Debt

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.

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ViacomCBS said intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of outstanding indebtedness.

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