NEW YORK, Oct. 4 /PRNewswire-FirstCall/ -- CBS Corporation
(NYSE: CBS.A and CBS) announced today the pricing of a debt
offering of $300 million of 4.30%
senior notes due 2021 and $300
million of 5.90% senior notes due 2040. CBS
Corporation intends to use the net proceeds of the offering to fund
its partial cash tender offer for up to $250,000,000 of its outstanding
$206,991,000 8.625% Debentures due
August 1, 2012
and $533,129,000 5.625% Notes due August 15, 2012, the full redemption of all of
its outstanding $335,000,000 7.25% Senior Notes due
June 30, 2051, and for general
corporate purposes.
The joint book managers for the offering are Citigroup Global
Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan
Stanley & Co. Incorporated, Goldman, Sachs & Co. and Wells
Fargo Securities, LLC.
A prospectus can be obtained by contacting CBS Corporation
Investor Relations at 1-877-CBS-0787 (1-877-227-0787) or
212-975-6450 or emailing investorrelations@cbs.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
DISCLOSURE NOTICE: Some statements in this release may
constitute forward-looking statements. CBS Corporation
cautions that these forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements.
A description of risks and uncertainties can be found in CBS
Corporation's most recent Annual Report on Form
10-K and its other public filings and press
releases. Except as required by law, CBS Corporation does not
assume any obligation to update any forward-looking statements
contained in this release as a result of new information or future
events or developments
About CBS Corporation
CBS Corporation is a mass media company with constituent parts
that reach back to the beginnings of the broadcast industry, as
well as newer businesses that operate on the leading edge of the
media industry. The Company, through its many and varied
operations, combines broad reach with well-positioned local
businesses, all of which provide it with an extensive distribution
network by which it serves audiences and advertisers in all 50
states and key international markets. It has operations in
virtually every field of media and entertainment, including
broadcast television (CBS and The CW – a joint venture between CBS
Corporation and Warner Bros. Entertainment), cable television
(Showtime Networks, Smithsonian Networks and CBS College Sports
Network), local television (CBS Television Stations), television
production and syndication (CBS Television Studios, CBS Studios
International and CBS Television Distribution), radio (CBS Radio),
advertising on out-of-home media (CBS Outdoor), publishing (Simon
& Schuster), interactive media (CBS Interactive), music (CBS
Records), licensing and merchandising (CBS Consumer Products),
video/DVD (CBS Home Entertainment), motion pictures (CBS Films) and
sustainable media (EcoMedia). For more information, log on to
www.cbscorporation.com.
SOURCE CBS Corporation
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