NBC Universal sells $5.1 billion in bonds


NBC Universal has priced its four-part issue of new bonds. The cash will be used to help pay a cash distribution to General Electric when Comcast acquires a majority stake in NBCU.

NBCU said the offering was priced in four tranches:

$900 million aggregate principal amount of 2.100% senior notes due 2014

$1.0 billion aggregate principal amount of 2.875% senior notes due 2016

$2.0 billion aggregate principal amount of 4.375% senior notes due 2021

$1.2 billion aggregate principal amount of 5.950% senior notes due 2041

The new bonds are being sold only to qualified institutional buyers and are not being registered for public trading.

RBR-TVBR observation: Rates are certainly attractive for debt placements on Wall Street! NBCU saw how strong demand is and made a wise choice by selling these new bonds in place of part of the term loans it is taking out when the Comcast-GE transaction goes to closing.