New Issue: Comcast sells $2.5 billion of notes in three parts due 2025, 2027 and 2032

Chicago, Oct. 31 – Comcast Corp. priced $2.5 billion of notes in three parts on Monday (A3/A-/A-), according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal Media, LLC.

The $750 million first tranche of three-year notes priced with a 5.25% coupon at 99.973 to yield 5.26%, or at a spread of 80 basis points to the benchmark Treasury.

The notes are callable at any time with a Treasuries plus 15 bps make-whole premium.

A $750 million middle tranche of five-year notes priced with a 5.35% coupon and a 99.955 price to yield 5.36%, or Treasuries plus 110 bps.

The notes are callable with a Treasuries plus 20 bps make-whole premium until the par call date one month before the maturity date.

The longest tranche of $1 billion of 10-year notes priced with a 5.5% coupon at 99.368 to yield 5.583%, or at Treasuries plus 150 bps.

The notes can be called early with a Treasuries plus 25 bps make-whole premium until the Aug. 15, 2032 par call date, then thereafter at par.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, BofA Securities, Inc., BNP Paribas Securities Corp. and SMBC Nikko Securities America, Inc. are listed as joint bookrunners.

Proceeds will be used to refinance outstanding debt. The debt will include Comcast Cable Communications Holdings Inc.’s 9.455% notes due Nov. 15, 2022 and Sky plc’s 3.125% notes due Nov. 26, 2022.

Comcast is a media and technology company based in Philadelphia.

Issuer:	Comcast Corp.
Guarantor:	Comcast Cable Communications, LLC and NBCUniversal Media, LLC
Amount:	$2.5 billion
Issue:	Notes
Bookrunners:	Citigroup Global Markets Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC, BofA Securities, Inc., BNP Paribas Securities Corp. and SMBC Nikko Securities America, Inc.
Co-managers:	Barclays, Commerz Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Santander Investment Securities Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, DNB Markets, Inc., ICBC Standard Bank plc, PNC Capital Markets LLC, SG Americas Securities, LLC, Academy Securities, Inc., BNY Mellon Capital Markets, LLC, ING Financial Markets LLC, Intesa Sanpaolo SpA, Loop Capital Markets LLC, NatWest Markets Securities Inc., Scotia Capital (USA) Inc., Truist Securities, Inc., Mischler Financial Group, Inc., R. Seelaus & Co., LLC, Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC
Trustee:	Bank of New York Mellon
Trade date:	Oct. 31
Settlement date:	Nov. 7
Ratings:	Moody’s: A3
	S&P: A-
	Fitch: A-
Distribution:	SEC registered
Three-year notes
Amount:	$750 million
Maturity:	Nov. 7, 2025
Coupon:	5.25%
Price:	99.973
Yield:	5.26%
Spread:	Treasuries plus 80 bps
Call features:	Make-whole call at Treasuries plus 15 bps
Cusip:	20030NDZ1
Five-year notes
Amount:	$750 million
Maturity:	Nov. 15, 2027
Coupon:	5.35%
Price:	99.955
Yield:	5.36%
Spread:	Treasuries plus 110 bps
Call features:	Make-whole call at Treasuries plus 20 bps until Oct. 15, 2027; thereafter at par
Cusip:	20030NEA5
10-year notes
Amount:	$1 billion
Maturity:	Nov. 15, 2032
Coupon:	5.5%
Price:	99.368
Yield:	5.583%
Spread:	Treasuries plus 150 bps
Call features:	Make-whole call at Treasuries plus 25 bps until Aug. 15, 2032; thereafter at par
Cusip:	20030NEB3

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