CBS to redeem all $700 million of 6.75% notes via offering proceeds

By Ashley Montgomery

Kansas City, Kan., Feb. 24 - CBS Corp. will redeem all $700 million of its outstanding 6.75% senior notes due 2056, the company announced in a news release Friday.

The notes will be redeemed on March 28 at par plus accrued interest up to the redemption date.

The company plans to fund the redemption with proceeds from its offering of senior notes due 2022.

Bank of New York Mellon is the agent.

CBS is a New York-based mass media company.

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