Proceeds will be used to boost working capital and for general corporate purposes, source tells Bloomberg
NBC Universal sold more than $2 billion in debt Friday in a two-part transaction, Bloomberg reported.
The offering, the media company's first in more than a year, consisted of $1 billion in 2.875 percent notes, which will mature in 2023, and $1 billion in 4.45 percent notes, due to mature in 2043. A source who chose to remain anonymous told Bloomberg that the proceeds from the sales will be applied to boost working capital and for general corporate purposes.
The company last sold debt bonds in July 2011, hawking $2 billion in notes that are due in April 2021.
The latest batch of bonds was rated at Baa2 — meaning they are subject to moderate credit risk, and rate two levels above speculative grade — by Moody's Investors Service. Standard & Poor's, meanwhile, gave the new bonds a BBB+ rating, three levels higher than junk.
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