Viacom Announces $550 Million Debt Offering
NEW YORK,
Sept. 24 --
Viacom Inc. (NYSE: VIA and VIA.B) today announced that it has agreed to sell
$250 million in aggregate principal amount of 4.250% senior notes due 2015 (the "2015 Senior Notes") at a price equal to 99.814% of the principal amount thereof and
$300 million in aggregate principal amount of 5.625% senior notes due 2019 (the "2019 Senior Notes" and, together with the 2015 Senior Notes, the "Senior Notes") at a price equal to 101.938% of the principal amount thereof. The 2019 Senior Notes are a further issuance of
Viacom's 5.625% senior notes due 2019 and are in addition to
$250 million aggregate principal amount of 5.625% senior notes due 2019 issued on
August 26, 2009. The sale of the Senior Notes is expected to close on
September 29, 2009.
Viacom intends to use the net proceeds of the offering to repay all or a portion of the amounts outstanding under its revolving credit facility and/or its commercial paper program.
The joint book running managers for the Senior Notes are
Banc of America Securities LLC,
J.P. Morgan Securities Inc. and
Wells Fargo Securities, LLC.
Viacom's senior unsecured debt is currently rated BBB by
Standard & Poor's, Baa3 by
Moody's Investors Service and BBB by Fitch.
A prospectus can be obtained by contacting Viacom Investor Relations at 800-516-4399 or by written request to
Viacom Inc.,
1515 Broadway, 52nd Floor,
New York, New York 10036, Attn: Investor Relations.
