8-KMaterial AgreementsRegulation FDExhibits & Filings

COMCAST CORP 8-K Report, Material Agreement (Jun 20, 2019)

Filed June 20, 2019For Securities:CMCSACCZ

Summary

Comcast Corporation (CMCSA) has filed an 8-K report detailing amendments to its revolving credit agreements. The primary focus is on the extension of the revolving termination dates for both Comcast's primary credit facility and NBCUniversal Enterprise's credit facility. These extensions move the termination dates from May 26, 2021, to May 26, 2022, providing continued access to liquidity for the company. In addition to extending the maturity, the amendments address important market shifts, including updates to interest rate component definitions and provisions for the potential discontinuation of LIBOR as a benchmark rate. Notably, the total commitments for Comcast's revolving credit agreement remain unchanged at $7.611 billion, and for NBCUniversal Enterprise, they remain at $1.617 billion. These actions signal Comcast's proactive management of its debt obligations and financial flexibility.

Key Highlights

  • 1Comcast extended its primary revolving credit agreement's termination date from May 26, 2021, to May 26, 2022.
  • 2NBCUniversal Enterprise also extended its revolving credit agreement's termination date from May 26, 2021, to May 26, 2022.
  • 3The total commitments for Comcast's credit facility remain $7,611,000,000.
  • 4The total commitments for NBCUniversal Enterprise's credit facility remain $1,617,000,000.
  • 5Amendments include updates to interest rate definitions to reflect potential LIBOR discontinuation.
  • 6The company is proactively managing its debt structure and ensuring continued access to liquidity.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce amendments to Comcast's and NBCUniversal Enterprise's revolving credit agreements, specifically extending the maturity dates and updating provisions related to benchmark interest rates like LIBOR.

The extension of the revolving credit agreements provides Comcast with continued access to a significant source of liquidity, ensuring financial flexibility through May 2022.

The changes to interest rate definitions are being made to prepare for the potential discontinuation of LIBOR (London Interbank Offered Rate) as a benchmark interest rate, ensuring the credit agreements remain functional and compliant with evolving market practices.

No, the total commitments under Comcast's revolving credit agreement remain $7.611 billion, and under NBCUniversal Enterprise's revolving credit agreement, they remain $1.617 billion.