Viacom Announces $1.3 Billion Debt Offering

Debt Offering

VIACOM INC. has announced that it is selling $400 million in aggregate principal amount of 2.250% senior notes due 2022 and $900 million in aggregate principal amount of 3.450% senior notes due 2026. The $1.3 billion aggregate debt offering is expected to close on OCTOBER 4th.

The company says it intends to use the net proceeds mostly to pay off outstanding debt, including the repayment of $400 million of 2.500% senior notes due DECEMBER 2016, $500 million of 3.500% senior notes due APRIL 2017, and borrowings under its commercial paper program. Anything left will be used for general corporate purposes.

CITIGROUP GLOBAL MARKETS INC., MERRILL LYNCH, PIERCE, FENNER & SMITH INC. and MORGAN STANLEY & CO. LLC. are joint book-running managers for the offering.

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