By Andrea Heisinger
New York, June 15 - Comcast Corp. priced $1.5 billion of notes (Baa1/BBB+/BBB+) in two tranches Monday, an informed source said.
The $700 million 5.7% 10-year notes priced at 99.763 to yield 5.731%, or Treasuries plus 200 basis points.
The $800 million 6.55% 30-year notes priced at 99.502 to yield 6.588%, also at a spread of Treasuries plus 200 bps.
The tranches each came at the tight end of price talk that was 200 bps to 212.5 bps, the source said. The deal was oversubscribed, with books totaling $2.5 billion, he said, with more demand on the 30-year tranche.
Both tranches had make-whole calls at Treasuries plus 35 bps.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp. and Wachovia Capital Markets LLC.
The telephone, television and internet service provider is based in Philadelphia.
| Issuer: | Comcast Corp.
|
| Issue: | Notes
|
| Total amount: | $1.5 billion
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Wachovia Capital Markets LLC
|
| Trade date: | June 15
|
| Settlement date: | June 18
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
|
|
| 10-year notes
|
| Amount: | $700 million
|
| Maturity: | July 1, 2019
|
| Coupon: | 5.7%
|
| Price: | 99.763
|
| Yield: | 5.731%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Price talk: | 200 to 212.5 bps
|
|
|
| 30-year notes
|
| Amount: | $800 million
|
| Maturity: | July 1, 2039
|
| Coupon: | 6.55%
|
| Price: | 99.502
|
| Yield: | 6.588%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 35 bps
|
| Price talk: | 200 to 212.5 bps
|
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