Market Pulse Archives

March 27, 2020, 6:39 p.m. EDT

ViacomCBS announces $2.5 billion debt offering

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    ViacomCBS Inc. Cl B (VIAC)
  • X
    ViacomCBS Inc. Cl A (VIACA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Jon Swartz

ViacomCBS Inc. /zigman2/quotes/200340870/composite VIAC +0.38% /zigman2/quotes/206702514/composite VIACA +1.21% late Friday announced a $2.5 billion debt offering, a day after the media giant said it was withdrawing prior guidance to its fiscal 2020 financial results because of coronavirus. ViacomCBS intends to use net proceeds from the offering for general corporate purposes, which may include repayment of outstanding indebtedness. The joint book-running managers for the offering are B.of A. Securities Inc., Goldman Sachs & Co., JP Morgan Securities, and Morgan Stanley & Co. "While ViacomCBS has experienced production delays, the Company has seen increased viewership across its broadcast and cable properties, and is utilizing its deep library of content to mitigate in part the impact of those delays," it said in a filing Thursday. "The Company is also working proactively to offset a portion of anticipated revenue losses through cost-savings initiatives." ViacomCBS shares have plummeted 73% in the last year. The broader S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.27% has fallen 10% in the last year.

/zigman2/quotes/200340870/composite
US : U.S.: Nasdaq
$ 26.31
+0.10 +0.38%
Volume: 12.31M
Aug. 10, 2020 4:00p
P/E Ratio
12.86
Dividend Yield
3.65%
Market Cap
$16.22 billion
Rev. per Employee
$867,543
loading...
/zigman2/quotes/206702514/composite
US : U.S.: Nasdaq
$ 28.35
+0.34 +1.21%
Volume: 118,350
Aug. 10, 2020 4:00p
P/E Ratio
13.86
Dividend Yield
3.39%
Market Cap
$16.22 billion
Rev. per Employee
$867,543
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,360.47
+9.19 +0.27%
Volume: 2.57B
Aug. 10, 2020 5:12p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.