NBCUniversal, Comcast increase revolving credit notes, extend maturity

By Marisa Wong

Morgantown, W.Va., Sept. 12 – NBCUniversal Media, LLC and Comcast Corp. amended and restated their matching revolving credit notes to increase the amount they can borrow from each other to $5 billion from $3 billion, according to an 8-K filing with the Securities and Exchange Commission.

The companies also extended the maturity date of the revolving credit notes to March 15, 2026, from March 15, 2023.

The notes bear interest at floating rates designed to mirror the interest rate calculation under Comcast’s revolving credit facility, the filing noted. The interest rate on Comcast’s credit facility consists of a base rate plus a margin based on its credit rating.

The amendments were completed on Sept. 7 as part of NBCUniversal’s cash management process with Comcast.

NBCUniversal is a New York-based media and entertainment company. Comcast is a media holding company based in Philadelphia.

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