Summary
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 million 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.
Key Highlights
- 1Comcast Corporation is issuing $700 million of 5.70% Notes due 2019 and $800 million of 6.55% Notes due 2039.
- 2The total aggregate principal amount of the debt offering is $1.5 billion.
- 3The offering was scheduled to be consummated on June 18, 2009.
- 4The new notes are guaranteed on an unsecured and unsubordinated basis by various Comcast cable subsidiaries.
- 5The debt offering is being conducted under an underwriting agreement dated June 15, 2009.
- 6The 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.