CBS Corp. Prices Tender Offer For Note Buyback

Buyback

CBS CORP. has announced the pricing of the previously announced tender offer to buy back any and all of four tranches of notes.

The company's 8.875% senior notes due 2019, aggregate amount $600 million have been priced at $1,296.57 per $1,000 principal of notes.  The 7.875% debentures due 2023, in an aggregate amount of $224,268,000, are priced at $1,306.25, while 7.875% senior debentures due 2030 (aggregate $1.25 billion) are at $1,368.11 and CBS BROADCASTING INC. 7.125% senior notes due 2023 (aggregate $52,185,000) are priced at $1,253.24.

The offer expires today unless extended.  Settlement, if the tender offer is not extended, is expected for WEDNESDAY.

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