Cash-Flush Viacom Offers To Buy Back $500M In Debt

Law360, New York (February 14, 2011, 3:57 PM EST) -- Entertainment holding company Viacom Inc., which is enjoying strong profits and a big bump in cash on hand, offered Monday to buy back $500 million in outstanding 6.25 percent senior notes that were due in 2016.

Viacom, the owner of cable television stalwarts such as MTV, Nickelodeon and Comedy Central, said Monday the offer would expire March 14 and would include a $30 premium for every $1,000 in principal value for notes tendered.

Viacom did not spell out its rationale for buying back the debt but,...
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