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Viacom reports early results of tender offers

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Viacom reports early results of tender offers

Viacom Inc. on June 2 reported early tender results and an increase of the maximum tender amount of its cash tender offers for certain outstanding debt securities.

In connection with the cash tender offers for the debt securities, about $2.5 billion of the securities were validly tendered and not validly withdrawn before 5 p.m. ET on June 1. Viacom also increased the maximum combined aggregate purchase price for the securities to $1 billion from $750 million.

Holders of securities validly tendered and not validly withdrawn on or prior to the early tender deadline will be eligible to receive the total consideration, which includes an early tender premium of $30 per $1,000 principal amount of securities validly tendered and not validly withdrawn by such holders and accepted for purchase by Viacom.

The tender cap of $150 million for the 2.750% senior notes and the 5.625% senior notes due 2019 represents the combined maximum aggregate purchase price of these notes that will be purchased in the offers. The early settlement date is currently expected to be June 5.