Paramount Global (ViacomCBS) to redeem $2 billion of notes

Chicago, Feb. 16 – Paramount Global announced it will redeem two series of notes in full and a portion of a third series in March, according to a press release.

The company is redeeming all of its $492,139,000 outstanding 3.875% senior notes due April 1, 2024 on March 18.

All of the $600 million outstanding 3.7% senior notes due Aug. 15, 2024 will be redeemed on March 3.

Also to be redeemed on March 3, is a $325 million portion of the company’s $600 million outstanding 3.5% senior notes due Jan. 15, 2025.

Both of the 2024 notes and the 2025 notes will be redeemed at par plus make-whole premiums plus unpaid interest to the redemption dates.

Previously, on Jan. 28, the company notified holders that it will redeem all $520 million of its outstanding 5.875% fixed-to-floating-rate junior subordinated debentures due Feb. 28, 2057 on Feb. 28 at par plus unpaid interest.

Bank of New York Mellon (800 254-2826) can be contacted regarding the 3.875% notes and the 5.875% notes.

Deutsche Bank Trust Co. Americas (800 735-7777) may be contacted regarding the 3.7% notes and the 3.5% notes.

Both banks are listed as paying agents.

The media and entertainment company, formerly called ViacomCBS Inc., is based in New York.

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