Viacom Agrees To Sell $1.3 Bln Senior Notes

(RTTNews) - Viacom Inc. (VIAB, VIA) announced that it has agreed to sell $400 million of 2.250% senior notes due 2022 at a price equal to 99.692% of the principal amount thereof and $900 million of 3.450% senior notes due 2026 at a price equal to 99.481% of the principal amount thereof. The company expects sale of the Senior Notes to close on October 4, 2016, subject to customary closing conditions.

Viacom intends to use offering net proceeds primarily for the repayment of outstanding indebtedness, borrowings under its commercial paper program, and, to the extent that any proceeds remain, for general corporate purposes.

The joint book-running managers for the offering are Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC.