Summary
Comcast Corporation (CMCSA) filed an 8-K report on August 7, 2017, to announce the successful consummation of a significant debt offering. The company issued and sold $1.65 billion in 3.150% Notes due 2028 and $850 million in 4.000% Notes due 2047, totaling $2.5 billion in aggregate principal amount. These notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal Media, LLC, providing an unsecured and unsubordinated guarantee. This move likely aims to bolster liquidity, fund ongoing operations or strategic initiatives, and manage its capital structure.
Key Highlights
- 1Comcast consummated the issuance and sale of $1.65 billion of 3.150% Notes due 2028.
- 2Comcast also issued $850 million of 4.000% Notes due 2047.
- 3The total aggregate principal amount of the Notes issued is $2.5 billion.
- 4The Notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal Media, LLC on an unsecured and unsubordinated basis.
- 5The offering was made under Comcast's effective Registration Statement on Form S-3 filed on July 28, 2016.
- 6The issuance was facilitated through an underwriting agreement dated August 1, 2017.
Frequently Asked Questions
This 8-K filing was made to announce the consummation of Comcast's debt offering, specifically the issuance and sale of new notes.
Comcast raised a total of $2.5 billion by issuing $1.65 billion in 3.150% Notes due 2028 and $850 million in 4.000% Notes due 2047.
The Notes are guaranteed on an unsecured and unsubordinated basis by two of Comcast's subsidiaries: Comcast Cable Communications, LLC and NBCUniversal Media, LLC.
The notes were offered pursuant to Comcast's effective Registration Statement on Form S-3 filed on July 28, 2016, and a related prospectus supplement dated August 1, 2017, under an underwriting agreement.