By Andrea Heisinger
New York, Jan. 8 - Comcast Corp. was in Tuesday's market with a $2.95 billion sale of notes (Baa1/BBB+/BBB+) in three tranches, an informed source said.
A $750 million tranche of 2.85% 10-year notes priced at a spread of Treasuries plus 100 basis points. The tranche was talked in the Treasuries plus 100 bps to 105 bps range.
There was $1.7 billion of 4.25% 20-year notes sold at a spread of 125 bps over Treasuries. Price guidance was in the 125 bps to 130 bps range.
Finally, a $500 million tranche of 4.5% 30-year bonds sold at Treasuries plus 145 bps. There was talk in the 140 bps to 145 bps range.
Active bookrunners were Barclays, Goldman Sachs & Co. and RBS Securities Inc. Passive bookrunners were Deutsche Bank Securities Inc. and UBS Securities LLC.
Comcast was last in the market with a $2.25 billion sale of notes in two tranches on June 26, 2012. The offering included 3.125% 10-year note priced at Treasuries plus 150 bps and 4.65% 30-year bonds sold at Treasuries plus 195 bps.
The telecommunications company is based in Philadelphia.
| Issuer: | Comcast Corp.
|
| Issue: | Notes
|
| Amount: | $2.95 billion
|
| Bookrunners: | Barclays, Goldman Sachs & Co., RBS Securities Inc. (active), Deutsche Bank Securities Inc., UBS Securities LLC (passive)
|
| Trade date: | Jan. 8
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 15, 2023
|
| Coupon: | 2.85%
|
| Spread: | Treasuries plus 100 bps
|
| Price talk: | 100 bps to 105 bps
|
|
|
| 20-year notes
|
| Amount: | $1.7 billion
|
| Maturity: | Jan. 15, 2033
|
| Coupon: | 4.25%
|
| Spread: | Treasuries plus 125 bps
|
| Price talk: | 125 bps to 130 bps
|
|
|
| 30-year bonds
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2043
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 145 bps
|
| Price talk: | 140 bps to 145 bps
|
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