| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item |
Viacom sets payout in tender for up to $500 million of 6.25% notes
By Jennifer Chiou
New York, Feb. 28 - Viacom Inc. announced the consideration to be paid in the cash tender offer for up to $500 million of its $1.5 billion of 6.25% senior notes due 2016, adding that it expects to accept one-third of the notes for purchase on March 1.
Assuming a settlement date of March 1, the company said it will pay $1,154.51 for each $1,000 principal amount of notes. With a March 15 settlement, the amount will be $1,153.44. The consideration was determined using the 2% U.S. Treasury note due Jan. 31, 2016 plus a fixed spread of 90 basis points. The reference yield was 2.097%.
The total payment includes a premium of $30.00 per $1,000 principal amount of notes tendered by 5 p.m. ET on Feb. 28, the early tender date.
Holders who tender notes after the early tender date but by midnight ET on March 14, the expiration date, will receive the total payment less the premium.
Viacom also will pay accrued interest up to but not including the payment date.
The tender offer is conditioned on Viacom completing an offering of senior notes but does not require the tender of a minimum principal amount of notes.
Merrill Lynch, Pierce, Fenner & Smith Inc. (888 292-0070 or collect 980 388-9217), Mitsubishi UFJ Securities (USA), Inc. (877 649-6848 or collect 212 405-7440), Morgan Stanley & Co. Inc. (800 624-1808 or collect 212 761-0858) and Wells Fargo Securities, LLC (866 309-6316 or collect 704 715-8341) are the dealer managers. Global Bondholder Services Corp. (attn: corporate actions, 866 873-6300 or collect at 212 430-3774) is the information agent and depositary.
The entertainment and broadcasting company is based in New York.
© 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.