CBS Corporation Offers $600 Million In Notes
October 5, 2010 at 4:22 AM (PT)
CBS CORPORATION is offering $600 million in senior notes in two $300 million groups, with proceeds to be used to pay down debt.
One of the two groups of notes will pay 4.3% interest due in 2021, while the other will carry a 5.9% rate and will be due in 2040. The company plans to partially buy back $207 million in outstanding debentures at 8.625% due AUGUST 1st, 2012 and $533 million in 5.625% notes due AUGUST 15th, 2012, with NOVEMBER 5th set as the redemption date.