By Aleesia Forni
Virginia Beach, Va., Aug. 13 - Viacom Inc. detailed its $3 billion of notes (Baa2/BBB/BBB+) in three tranches, according to a FWP filing with the Securities and Exchange Commission.
The company priced $500 million 2.5% notes due 2018 at a spread of 125 basis points over Treasuries. The notes were sold at 99.423 to yield 2.623%.
There was also $1.25 billion of 4.25% notes due 2023 priced with a spread of 178 bps over Treasuries. The notes were priced at 99.689 to yield 4.378%.
Finally, a $1.25 billion tranche of 5.85% 30-year bonds sold at Treasuries plus 220 bps, or 99.353 to yield 5.896%.
Proceeds will be used for general corporate purposes.
The entertainment company is based in New York City.
| Issuer: | Viacom Inc.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Trade date: | Aug. 12
|
| Settlement date: | Aug. 19
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | 2018
|
| Coupon: | 2.5%
|
| Price: | 99.423
|
| Yield: | 2.623%
|
| Spread: | Treasuries plus 125 bps
|
| Make-whole call: | Treasuries plus 20 bps
|
|
|
| 10-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | 2023
|
| Coupon: | 4.25%
|
| Price: | 99.689
|
| Yield: | 4.378%
|
| Spread: | Treasuries plus 178 bps
|
| Make-whole call: | Treasuries plus 30 bps
|
| Par call: | On or after June 1, 2023 plus accrued and unpaid interest
|
|
|
| 30-year bonds
|
| Amount: | $1.25 billion
|
| Maturity: | 2043
|
| Coupon: | 5.85%
|
| Price: | 99.353
|
| Yield: | 5.896%
|
| Spread: | Treasuries plus 220 bps
|
| Make-whole call: | Treasuries plus 35 bps
|
| Par call: | On or after March 1, 2043 plus accrued and unpaid interest
|
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