Comcast draws $2 billion from credit facility for 49% of NBCUniversal

By Toni Weeks

San Luis Obispo, Calif., Feb. 12 - Comcast Corp. said it will use $2 billion of borrowings under its credit facilities and/or those of its subsidiaries to fund the acquisition of a 49% common equity stake in the NBCUniversal joint venture from General Electric for roughly $16.7 billion as well as for the purchase by NBCUniversal, also from GE, two properties for about $1.4 billion.

The properties include one used by NBCUniversal at 30 Rockefeller Plaza, New York, and CNBC's headquarters in Englewood Cliffs, N.J.

According to a press release, Comcast will also used $4 billion of subsidiary senior unsecured notes and $725 million of preferred stock, both of which will be issued to GE, along with $11.4 billion of cash on hand to fund the transactions.

Philadelphia-based Comcast is a media and technology company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.