By Andrea Heisinger
Omaha, May 2 - Comcast Corp. priced $2 billion of notes (Baa2/BBB+/BBB+) in two equal tranches on Friday, an informed source said.
The 5.7% 10-year notes priced at 99.976 to yield 5.703%, or Treasuries plus 185 basis points.
The 6.4% 30-year notes priced at 99.786 to yield 6.416%, or Treasuries plus 185 bps.
Both of the tranches have make-whole redemption options of Treasuries plus 30 bps.
The notes also each had price talk of 190 bps to just shy of 200 bps, a source close to the deal said.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Inc. and UBS Investment Bank were the bookrunners.
The cable television and internet company is based in Philadelphia.
| Issuer: | Comcast Corp.
|
| Issue: | Notes
|
| Amount: | $2 billion
|
| Trade date: | May 2
|
| Settlement date: | May 7
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 15, 2018
|
| Coupon: | 5.7%
|
| Price: | 99.976
|
| Yield: | 5.703%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Price talk: | 190 to 200 bps area
|
|
|
| 30-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 15, 2038
|
| Coupon: | 6.4%
|
| Price: | 99.786
|
| Yield: | 6.416%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Make-whole at Treasuries plus 185 bps
|
| Price talk: | 190 to 200 bps area
|
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