Viacom raised $3 billion in a bond sale that the owner of Paramount Pictures, Showtime and other cable staples will chiefly use to pay off debts and repurchase shares, the company announced Monday.
It was Viacom’s largest offering in some seven years, according to Bloomberg, dating back to its $5.5 billion bond sale in 2006.
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Other assets in Sumner Redstone’s media empire include Nickelodeon; music channels MTV, VH1 and CMT; BET; Comedy Central; and each network's family of channels and subsidiaries.
Handling the transaction for Viacom were Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBS Securities Inc.