New Issue-CBS Corp sells $750 mln in 2-part senior notes

Fri May 8, 2009 10:30pm BST
[-] Text [+]
 May 8 (Reuters) - CBS Corp (CBS.N: Quote, Profile, Research) on Friday sold $750
million in two-part senior notes, said IFR, a Thomson Reuters
service.
 Bank of America, Citigroup, JP Morgan and UBS were the
joint bookrunning managers for the sale.
BORROWER: CBS CORPORATION
FIRST TRANCHE:
AMT $400 MLN       COUPON 8.20 PCT     MATURITY 5/15/2014 
TYPE SR NOTES      ISS PRICE 98.796    FIRST PAY 11/15/2009
MOODY'S Baa3       YIELD 8.50 PCT      SETTLEMENT 5/13/2009
S&P BBB            SPREAD 635.5 BPS/   PAY FREQ SEMI-ANNUAL
FITCH BBB           MORE THAN TREAS    MAKE-WHOLE CALL 75 BPS
SECOND TRANCHE:
AMT $350 MLN       COUPON 8.875 PCT    MATURITY 5/15/2019 
TYPE SR NOTES      ISS PRICE 97.585    FIRST PAY 11/15/2009
MOODY'S Baa3       YIELD 9.25 PCT      SETTLEMENT 5/13/2009
S&P BBB            SPREAD 596.2 BPS/   PAY FREQ SEMI-ANNUAL
FITCH BBB           MORE THAN TREAS    MAKE-WHOLE CALL 75 BPS


 
 

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