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Tags: Viacom | offering | bonds | debt

Viacom Said to Plan Benchmark Bonds With Three-Part Offering

Monday, 12 August 2013 12:13 PM EDT

Viacom Inc., the owner of the Paramount film studios and cable networks Comedy Central and BET, is planning to sell benchmark bonds in three parts.

The company may issue five-year securities to yield about 130 basis points more than similar-maturity Treasurys, 10-year debt at a relative yield of about 185 basis points and 30-year bonds at about a 225 basis-point spread as soon as today, according to a person with knowledge of the transaction. The debt may be rated Baa2 by Moody’s Investors Service.

The company’s $300 million of 3.25 percent securities due March 2023 traded at 92.68 cents on the dollar to yield 4.18 percent on Aug. 8, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Royal Bank of Scotland Group Plc are managing the offering for the New York-based company, the person said. Proceeds will be used for general corporate purposes.

Benchmark sales are typically at least $500 million.

© Copyright 2024 Bloomberg News. All rights reserved.


InvestingAnalysis
Viacom Inc., the owner of the Paramount film studios and cable networks Comedy Central and BET, is planning to sell benchmark bonds in three parts.
Viacom,offering,bonds,debt
167
2013-13-12
Monday, 12 August 2013 12:13 PM
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