ViacomCBS Floats $2.5 Billion in Debt Securities

ViacomCBS (NASDAQ: VIAC) (NASDAQ: VIACA) is looking to the debt markets for a fresh round of financing. The company announced Friday that it is floating $1.25 billion worth of debt securities on the market.

The company is selling senior notes with an aggregate principal amount of 4.75%, which mature in 2025. On maturity, they will be paid at a level just under 99.5% of the principal amount. ViacomCBS expects the issue to close next Wednesday, April 1.

The entertainment giant, which owns such high-profile media brands as Nickelodeon, Paramount, and Showtime, said it will utilize the funds from the issue for "general corporate purposes." Outside of stating that this might include debt repayment, it did not get any more specific.

Source Fool.com