Viacom To Sell $550M In Notes To Tackle Debt

Law360, New York (September 25, 2009, 3:13 PM EDT) -- Viacom Inc. has announced it will sell $250 million in 4.25 percent senior notes due in 2015, and $300 million in 5.625 percent notes due in 2019, in an effort to reduce the media conglomerate's outstanding debt.

The 4.25 percent notes will be sold at 99.814 percent of the principal amount, and the 5.625 percent notes will be sold at 101.938 percent of the amount, the company said Thursday, and the sale is expected to close on Sept. 29.

Proceeds from the deal will go toward...
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