Summary
Comcast Corporation (CMCSA) filed an 8-K on January 10, 2017, to report the consummation of a significant debt offering that occurred on January 4, 2017. The company successfully issued and sold $2.5 billion in aggregate principal amount of notes, split equally between 3.00% Notes due 2024 and 3.30% Notes due 2027. These notes are guaranteed by key subsidiaries, Comcast Cable Communications, LLC and NBCUniversal Media, LLC, on an unsecured and unsubordinated basis.
Key Highlights
- 1Comcast issued $2.5 billion in new debt.
- 2The issuance consisted of $1.25 billion in 3.00% Notes due 2024 and $1.25 billion in 3.30% Notes due 2027.
- 3The debt offering was underwritten by prominent financial institutions including BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, and Wells Fargo Securities, LLC.
- 4The notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal Media, LLC.
- 5The issuance was made under Comcast's effective shelf registration statement on Form S-3.
- 6The debt was issued pursuant to an existing Indenture dated September 18, 2013, as supplemented.
Frequently Asked Questions
This 8-K filing was made to report the consummation of Comcast's debt issuance, specifically the sale of $2.5 billion in notes.
Comcast issued a total of $2.5 billion in aggregate principal amount of notes. This includes $1.25 billion of 3.00% Notes due 2024 and $1.25 billion of 3.30% Notes due 2027.
Yes, the notes are guaranteed on an unsecured and unsubordinated basis by Comcast Cable Communications, LLC and NBCUniversal Media, LLC, which are significant subsidiaries of Comcast.
The offering was conducted under Comcast's existing shelf registration statement on Form S-3, filed previously. The issuance itself was pursuant to an underwriting agreement dated January 5, 2017.