CBS completes $2.5 billion restated revolver due December 2019

By Marisa Wong

Madison, Wis., Dec. 4 – CBS Corp. amended and restated its $2 billion unsecured revolving credit agreement on Dec. 2 for a $2.5 billion credit agreement expiring in December 2019, according to an 8-K filing with the Securities and Exchange Commission.

The restated credit agreement was executed by the company, CBS Operations Inc. and a syndicate of banks including JPMorgan Chase Bank, NA as administrative agent, Citibank, NA as syndication agent and Bank of America, NA, Deutsche Bank Securities Inc., Morgan Stanley MUFG Loan Partners, LLC, Royal Bank of Scotland plc and Wells Fargo Bank, NA as co-documentation agents.

The previous revolver was scheduled to expire in March 2018.

The new credit agreement contains provisions substantially similar to those in the company’s previous credit agreement, including a maximum consolidated leverage ratio.

CBS is a broadcasting company based in New York.

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