Tags: Viacom | offering | bonds | debt

Viacom Said to Plan Benchmark Bonds With Three-Part Offering

Monday, 12 Aug 2013 12:13 PM

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.

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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
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2013-13-12
Monday, 12 Aug 2013 12:13 PM
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