Boston, MA 08/12/2014 (wallstreetpr) – The global conditions are improving very quickly, and people are looking for additional options for investment. The best option in today’s time seems to be none other than debt instruments. Not only individuals, but most of the major organizations have also understood the logic of debt market instruments in today’s fluctuating market conditions. One example of it was seen when CBS Corporation (NYSE:CBS) decided to offer senior notes worth of $1.75 billion.
Details of Senior Notes Offering:
According to reports, CBS Corporation (NYSE:CBS) offered notes worth of $600 million, 2.3% due in due by 2019, $600 million, 3.7% senior notes due by 2024 and $550 million, 4.9% senior notes due by 2044. The company gave hints of using the net proceeds these offerings in funding its cash tender offers. Some of them are as follows- $600 million, 8.875% due in due by 2019, $224.3 million outstanding principal amount of 7.875% debentures due by 2023, $1.25 billion, 7.875% outstanding principal amount of senior debentures due in 2030 and $52.2 million, 7.125% outstanding principal amount of senior notes due in 2023. All of these offerings are registered under a wholly owned subsidiary of CBS Corporation (NYSE:CBS); CBS Broadcasting Inc. After all these transactions, if CBS is left with any amount, then it will be used to repurchase, repay or redeem other commercial papers and remaining 8.875% senior notes due in 2019 (if any).
The joint book manager for the senior notes offerings is Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Fenner & Smith Incorporated, Pierce and RBS Securities Inc. The prospectus of this offering is available on the official website of the company under ‘investor relations’ section. If somebody is interested in it, he/she can directly download the prospectus for more information.
CBS Corporation (NYSE:CBS) is one of the well known mass media companies of the world that creates and distributes industry leading content to the audience across the world. With this offering, company is all set to increase its offerings in the future.