NEW YORK, Feb. 20, 2019 /PRNewswire/ -- CBS
Corporation (NYSE: CBS.A and CBS) today announced the pricing of a
debt offering of $500 million of 4.200% senior notes due 2029.
The sale of the senior notes is expected to close on March 5,
2019, subject to customary closing conditions.
After deducting fees and expenses related to this offering, CBS
intends to use the net proceeds in the redemption of all of its
$600 million outstanding aggregate
principal amount of 2.300% senior notes due August 15, 2019.
The joint book-running managers for the offering are Citigroup
Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated and Wells Fargo Securities,
LLC.
This offering is being made pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission ("SEC") and only by means of a prospectus and
related prospectus supplement. These documents may be obtained for
free from the SEC at www.sec.gov or by contacting CBS Investor
Relations by telephone at (877) CBS-0787 or by email at
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 or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Disclosure Notice
Certain statements in this
release are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. 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. Important factors that
could cause actual results to differ materially from our
expectations include, without limitation: changes in legislation,
tax rules or market conditions; other domestic and global economic,
business, competitive and/or regulatory factors affecting CBS
Corporation's businesses; and other factors described in CBS
Corporation's filings with the SEC including, but not limited to,
its most recent Forms 10-K, 10-Q and 8-K. You should not place
undue reliance on these forward-looking statements, which apply
only as of the time of this news release. Except to the extent
required by applicable securities laws, we do not undertake 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 (NYSE: CBS.A
and CBS) is a mass media company that creates and distributes
industry-leading content across a variety of platforms to audiences
around the world. The Company has businesses with origins that date
back to the dawn of the broadcasting age as well as new ventures
that operate on the leading edge of media. CBS owns the
most-watched television network in the U.S. and one of the world's
largest libraries of entertainment content, making its brand — "the
Eye" — one of the most-recognized in business. The Company's
operations span virtually every field of media and entertainment,
including cable, publishing, local TV, film, and interactive and
socially responsible media. CBS' businesses include CBS Television
Network, The CW (a joint venture between CBS Corporation and Warner
Bros. Entertainment), Network 10 Australia, CBS Television Studios,
CBS Studios International, CBS Television Distribution, CBS
Consumer Products, CBS Home Entertainment, CBS Interactive, CBS
Films, Showtime Networks, CBS Sports Network, Pop (a joint venture
between CBS Corporation and Lionsgate), Smithsonian Networks, Simon
& Schuster, CBS Television Stations, CBS EcoMedia, and CBS
Experiences.
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SOURCE CBS Corporation