New Issue: Comcast prices $1.05 billion of add-ons to tranches due 2023, 2026

By Aleesia Forni

New York, March 22 – Comcast Corp. sold $1.05 billion of add-ons to two existing tranches of its senior notes (A3/A-/A-), according to a market source and an FWP filed with the Securities and Exchange Commission.

There was a $350 million add-on to its 2.75% notes due March 1, 2023 sold at 101.871 to yield 2.451%, or Treasuries plus 75 basis points.

The notes were talked in the Treasuries plus 85 bps area.

And a $700 million tap of the company’s 3.15% notes due March 1, 2026 priced at 102.861 to yield 2.81% with a spread of Treasuries plus 90 bps.

Price talk was in the Treasuries plus 100 bps area.

Both tranches were originally sold on Feb. 16.

Proceeds will be used for general corporate purposes.

Bookrunners were BofA Merrill Lynch, RBC Capital Markets LLC, Wells Fargo Securities LLC, Barclays and BNP Paribas Securities Corp.

Comcast is a Philadelphia-based provider of entertainment, information and communication products and services.

Issuer:	Comcast Corp.
Guarantors:	Comcast Cable Communications, LLC and NBCUniversal Media, LLC
Issue:	Senior notes
Amount:	$1.05 billion
Bookrunners:	BofA Merrill Lynch, RBC Capital Markets LLC, Wells Fargo Securities LLC, Barclays, BNP Paribas Securities Corp.
Co-managers:	Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Lloyds Securities Inc., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., UBS Securities LLC, Santander Investment Securities Inc., U.S. Bancorp Investments, Inc., DNB Markets, Inc., PNC Capital Markets LLC, TD Securities (USA) LLC
Junior co-managers:	Williams Capital Group, LP, C.L. King & Associates, Inc., Drexel Hamilton, LLC, Lebenthal & Co., LLC, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez and Co., Inc.
Trade date:	March 22
Settlement date:	March 30
Ratings:	Moody’s: A3
	Standard & Poor’s: A-
	Fitch: A-
Distribution:	SEC registered
Add-on to seven-year notes
Amount:	$350 million
Maturity:	March 1, 2023
Coupon:	2.75%
Price:	101.871, plus accrued interest
Yield:	2.451%
Spread:	Treasuries plus 75 bps
Price guidance:	Treasuries plus 85 bps area
Total issue size:	$1.1 billion, including $750 million sold at Treasuries plus 125 bps on Feb. 16
Make-whole call:	Treasuries plus 20 bps prior to Feb. 1, 2023, then callable at par
Add-on to 10-year notes
Amount:	$700 million
Maturity:	March 1, 2026
Coupon:	3.15%
Price:	102.861, plus accrued interest
Yield:	2.81%
Spread:	Treasuries plus 90 bps
Price guidance:	Treasuries plus 100 bps area
Total issue size:	$2.2 billion, including $1.5 billion priced at Treasuries plus 140 bps on Feb. 16
Make-whole call:	Treasuries plus 25 bps prior to Dec. 1, 2025, then callable at par

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