By Aleesia Forni
Virginia Beach, Feb. 19 - Comcast Corp. priced $2.2 billion of senior notes (A3/A-/A-) in two tranches on Wednesday, according to a syndicate source.
The company sold $1.2 billion of 3.6% 10-year notes at 93 basis points over Treasuries, or 99.426 to yield 3.669%.
Pricing was at the tight end of talk, which was set in the Treasuries plus 95 bps area.
A second tranche was $1 billion of 4.75% bonds due 2044, which priced on top of talk with a spread of Treasuries plus 110 bps. The bonds were sold at 99.114 to yield 4.806%.
Proceeds will be used for general corporate purposes and working capital.
BofA Merrill Lynch, BNP Paribas Securities Corp., RBC Capital Markets Inc. and Wells Fargo Securities LLC were the joint bookrunners.
Comcast is a Philadelphia-based provider of entertainment, information and communication products and services.
| Issuer: | Comcast Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.2 billion
|
| Joint bookrunners: | BofA Merrill Lynch, BNP Paribas Securities Corp., RBC Capital Markets Inc., Wells Fargo Securities LLC
|
| Trade date: | Feb. 19
|
| Settlement date: | Feb. 26
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
|
|
| Notes due 2024
|
| Amount: | $1.2 billion
|
| Maturity: | March 1, 2024
|
| Coupon: | 3.6%
|
| Price: | 99.426
|
| Yield: | 3.669%
|
| Spread: | Treasuries plus 93 bps
|
| Price talk: | Treasuries plus 95 bps area, tightened from Treasuries plus 110 bps area
|
|
|
| Notes due 2044
|
| Amount: | $1 billion
|
| Maturity: | March 1, 2044
|
| Coupon: | 4.75%
|
| Price: | 99.114
|
| Yield: | 4.806%
|
| Spread: | Treasuries plus 110 bps
|
| Price talk: | Treasuries plus 110 bps area, tightened from Treasuries plus 125 bps area
|
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