01—Abstract
Summary
Summary of the 8-K filed June 17, 2009. Cited figures are marked; the original filing is the authoritative source.
Comcast Corporation (CMCSA) filed an 8-K report on June 17, 2009, detailing the expected consummation of a significant debt offering.
The company announced the issuance and sale of $700 milliona in 5.70% Notes due 2019 and $800 million in 6.55% Notes due 2039, totaling $1.5 billion in aggregate principal amount. These notes are guaranteed by several of Comcast's cable subsidiaries, providing an unsecured and unsubordinated claim. The offering, which was expected to close on June 18, 2009, was conducted under an underwriting agreement dated June 15, 2009, and was made pursuant to a previously filed Registration Statement on Form S-3 and a related prospectus supplement.
This debt issuance represents a strategic move by Comcast to raise capital, likely for general corporate purposes, refinancing existing debt, or funding growth initiatives. Investors should note the specific maturity dates and coupon rates associated with these new notes.
02—Key points
Key Highlights
- Comcast Corporation is issuing $700 million of 5.70% Notes due 2019 and $800 million of 6.55% Notes due 2039.
- The total aggregate principal amount of the debt offering is $1.5 billion.
- The offering was scheduled to be consummated on June 18, 2009.
- The new notes are guaranteed on an unsecured and unsubordinated basis by various Comcast cable subsidiaries.
- The debt offering is being conducted under an underwriting agreement dated June 15, 2009.
- The issuance is made pursuant to Comcast's Form S-3 registration statement filed on April 27, 2009, and a prospectus supplement dated June 15, 2009.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
This 8-K filing is primarily to report on the expected consummation of a significant debt offering by Comcast Corporation, totaling $1.5 billion in new notes.
What are the terms of the new notes being issued?
Comcast is issuing $700 million in aggregate principal amount of 5.70% Notes due 2019 and $800 million in aggregate principal amount of 6.55% Notes due 2039.
Who guarantees these new notes?
The Notes are guaranteed on an unsecured and unsubordinated basis by several of Comcast's cable subsidiaries, including Comcast Cable Communications, LLC, Comcast Cable Communications Holdings, Inc., Comcast Cable Holdings, LLC, Comcast MO Group, Inc., and Comcast MO of Delaware, LLC.
How is this debt offering being conducted?
The offering is being made pursuant to an underwriting agreement dated June 15, 2009, and is registered under Comcast's Form S-3 filed on April 27, 2009, with a related prospectus supplement dated June 15, 2009.
04—Continue