Search
 

Viacom's Bond Sale Goes Well After Talk of CBS Merger

Company was able to reduce the yield on its new borrowings.

By Claire Boston, Bloomberg | Updated on September 30, 2016

Viacom Inc. shaved more than $7 million off potential annual interest costs after its controlling shareholder publicly urged a merger with CBS Corp. just as the media giant was kicking off a $1 billion bond sale.

Keen to get in before a media remarriage, debt investors submitted some $15 billion of orders for the bonds, people with knowledge of the matter said, and Viacom ultimately raised $1.3 billion. The demand allowed Viacom to lower the yield on parts of the offering by about 0.7%.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.