NEW YORK--(BUSINESS WIRE)--
Viacom Inc. (NASDAQ:VIAB, VIA) today announced that it has agreed to
sell $400 million in aggregate principal amount of 2.200% senior notes
due 2019 at a price equal to 99.947% of the principal amount thereof
(the "2019 Senior Notes"), $550 million in aggregate principal amount of
3.875% senior notes due 2024 at a price equal to 99.192% of the
principal amount thereof (the "2024 Senior Notes") and $550 million in
aggregate principal amount of 5.250% senior debentures due 2044 at a
price equal to 99.831% of the principal amount thereof (the "Senior
Debentures" and, together with the 2019 Senior Notes and the 2024 Senior
Notes, the "Senior Notes and Debentures"). The sale of the Senior Notes
and Debentures is expected to close on March 11, 2014, subject to
customary closing conditions.
Viacom intends to use the net proceeds from the offering for general
corporate purposes, including, but not limited to, the repayment of
outstanding indebtedness, which includes redemption of $600 million
aggregate principal amount of its 4.375% Senior Notes due 2014 and
borrowings under its commercial paper program, and the repurchase of
shares under its share repurchase program.
The joint book-running managers for the offering are Deutsche Bank
Securities Inc., Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC,
Mizuho Securities USA Inc. and SMBC Nikko Securities America, Inc.
Viacom's senior unsecured debt is currently rated BBB by Standard &
Poor's, BBB+ by Fitch, and Baa2 by Moody's Investors Service.
The terms and conditions of the Senior Notes and Debentures are set
forth in a prospectus, which can be obtained by contacting Viacom
Investor Relations at 1-800-516-4399 or by written request to Viacom
Inc., 1515 Broadway, 52nd Floor, New York, New York 10036, Attn:
Investor Relations.
About Viacom
Viacom is home to premier global media brands that create compelling
television programs, motion pictures, short-form video, apps, games,
consumer products, social media and other entertainment content for
audiences in more than 160 countries and territories. Viacom's media
networks, including MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick
Jr., TeenNick, Nicktoons, Nick at Nite, Comedy Central, TV Land, SPIKE,
Tr3s, Paramount Channel and VIVA, reach approximately 700 million
television subscribers worldwide. Paramount Pictures, America's oldest
film studio, is a major global producer and distributor of filmed
entertainment.
For more information about Viacom and its businesses, visit www.viacom.com.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains both historical and forward-looking
statements. All statements that are not statements of historical fact
are, or may be deemed to be, forward-looking statements. Forward-looking
statements reflect our current expectations concerning future results,
objectives, plans and goals, and involve known and unknown risks,
uncertainties and other factors that are difficult to predict and which
may cause future results, performance or achievements to differ. These
risks, uncertainties and other factors include, among others: the public
acceptance of our programs, motion pictures and other entertainment
content on the various platforms on which they are distributed;
technological developments and their effect in our markets and on
consumer behavior; competition for audiences and distribution; the
impact of piracy; economic conditions generally, and in advertising and
retail markets in particular; fluctuations in our results due to the
timing, mix and availability of our motion pictures and other
programming; changes in the Federal communications laws and regulations;
other domestic and global economic, business, competitive and/or
regulatory factors affecting our businesses generally; and other factors
described in our news releases and filings with the Securities and
Exchange Commission, including but not limited to our 2013 Annual Report
on Form 10-K and reports on Form 10-Q and Form 8-K. The forward-looking
statements included in this document are made only as of the date of
this document, and we do not have any obligation to publicly update any
forward-looking statements to reflect subsequent events or circumstances.
Viacom Inc.
Press:
Jeremy
Zweig, 212-846-7503
Vice President, Corporate Communications
jeremy.zweig@viacom.com
or
Mark
Jafar, 212-846-8961
Vice President, Corporate Communications
mark.jafar@viacom.com
or
Investors:
James
Bombassei, 212-258-6377
Senior Vice President, Investor Relations
james.bombassei@viacom.com
or
Pamela
Yi, 212-846-7581
Director, Investor Relations
pamela.yi@viacom.com
Source: Viacom Inc.
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