NEW YORK, July 7, 2015 /PRNewswire/ -- CBS Corporation
(NYSE: CBS.A and CBS) today announced the pricing of a debt
offering of $800 million of 4.00%
senior notes due 2026. The sale of the senior notes is expected to
close on July 10, 2015, subject to
customary closing conditions.
After deducting fees and expenses related to this offering, CBS
intends to use the net proceeds for general corporate purposes,
including among other things, the repurchase of shares of CBS's
outstanding common stock pursuant to the Company's authorized share
repurchase program and the repayment of short-term borrowings,
including commercial paper.
The joint book managers for the offering are BNP Paribas
Securities Corp., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Mizuho Securities USA Inc., and Morgan Stanley & Co.
LLC.
A prospectus can be obtained 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 the Company's
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 news releases and filings with the SEC including, but
not limited to, the Company's 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, CBS
Corporation does 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's operations span virtually every
field of media and entertainment, including broadcast television,
cable networks, content production and distribution, film,
publishing, local TV and radio stations, and interactive and
socially responsible media.
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SOURCE CBS Corporation