Viacom plans cash tender offer for 5.75% senior notes due 2011

By Jennifer Chiou

New York, Aug. 19 - Viacom Inc. announced that it will launch a cash tender offer for its $1.5 billion of 5.75% senior notes due 2011.

The offer ends at 5 p.m. ET on Aug. 27.

The New York-based entertainment content company said it intends to use some of the net proceeds from an offering of $750 million of senior notes due 2014 and senior notes due 2019 to fund the offer.

For each $1,000 principal amount, the company said it will pay $1,061.25.

Viacom said it will pay accrued interest up to, but not including, the date of payment.

Deutsche Bank Securities Inc. (866 627-0391 or call collect 212 250-2955), Citigroup Global Markets Inc. (800 558-3745 or call collect 212 723-6106) and RBS Securities Inc. (877 297-9832 or call collect 203 897-6145) are the dealer managers, and Global Bondholder Services Corp. (866 873-6300 or call collect 212 430-3774) is the information agent and depositary.

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