CBS Corporation Announces $1.46 Billion Debt Financing As Part Of CBS Radio Spinoff

Spinning Off

CBS CORPORATION has announced that it is issuing $460 million in senior unsecured notes in a private placement and taking out a $1 billion senior secured term loan as part of CBS RADIO INC.'s separation from the parent company.

The proceeds from both the notes and the loan will be distributed to the parent company, with what little of the net proceeds remain going to CBS RADIO for general corporate purposes and ongoing cash needs.

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