Comcast Corp. and NBCUniversal Media LLC on Oct. 18 disclosed the early tender results of its private offers to exchange certain series of existing Comcast and NBCU notes for Comcast's new notes due Nov. 1, 2047; new notes due Nov. 1, 2049; and new notes due Nov. 1, 2052.
According to the early tender results, the amount tendered, in order of priority of notes, included $1.21 billion of Comcast's 6.950% notes due 2037; $386.3 million of Comcast's 6.550% notes due 2039; $518.3 million of Comcast's 6.400% notes due March 1, 2040; $441.6 million of NBCU's 6.400% notes due April 30, 2040; $945.7 million of Comcast's 6.450% notes due 2037; $552.0 million of Comcast's 6.400% notes due 2038; $380.0 million of Comcast's 6.500% notes due 2035; $526.8 million of NBCU's 5.950% notes due 2041; and $229.1 million of Comcast's 5.650% notes due 2035.
Based on the early tender results, the total amount tendered under the exchange offers was $5.19 billion, as of 5 p.m. ET on Oct. 17, based on information provided by the exchange agent to the companies.
The exchange offers is scheduled to expire Oct. 31, unless extended or earlier terminated.
If, as of Oct. 17, the exchange offer is over-subscribed and all conditions to the offer have been or concurrently are satisfied or waived, the companies have the option, but not the obligation, to accept all validly tendered old notes for exchange as of Oct. 17, on the expected settlement date of Oct. 19. If the companies do not opt to settle the exchange offer on the early settlement date, then the settlement date is expected to be Nov. 1. The companies will decide on the matter at the pricing time for the exchange offer, which is currently scheduled at 11 a.m. ET on Oct. 18.