Comcast completes fourth largest bond sale ever to fund Sky deal
US media giant Comcast Corp (NASDAQ:CMCSA) has completed one of the biggest bond sales ever to fund its multi-billion dollar acquisition of Britain’s Sky PLC (LON:SKY).
Comcast sold US$27bn of unsecured bonds in 12 parts and was able to cut the cost of its sale as investors put in orders for around US$88bn of the debt.
READ: Clash of the (media) titans: What drove the Fox, Comcast, Disney bidding war over Sky?
It follows a protracted battle for Europe’s largest satellite broadcaster. Comcast won the war last month by outbidding Rupert Murdoch’s 21st Century Fox Inc (NASDAQ:FOX) in an auction process instigated in September by the UK’s takeover panel with a knockout bid of 1,728p per share, valuing the company at US$39bn (£30bn).
Fox, which is in the process of selling itself to Walt Disney Co, sold its 39% stake in Sky to Comcast after the auction, giving Comcast full control of the UK-based firm. Comcast’s offer was significantly higher than Fox’s bid of 1,567p per share.
The bond sale is the fourth largest in corporate history behind issues from CVS Health Corp, Verizon Communications Inc and Anheuser-Busch InBev NV.
By owning all of Sky, Comcast’s debt is expected to almost double to US$114bn.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/206313/comcast-completes-fourth-largest-bond-sale-ever-to-fund-sky-deal-206313.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).