PHILADELPHIA--(BUSINESS WIRE)-- Comcast Corporation (“Comcast”) announced that, as of 5:00 p.m., New York City time, on June 17, 2020 (the “Expiration Time”), it had received tenders for an aggregate principal amount of $585,105,000 of the $1,000,000,000 total outstanding aggregate principal amount of its Floating Rate Notes due October 2021 (the “Comcast Notes”), and NBCUniversal Enterprise, Inc., a subsidiary of Comcast (“NBCU Enterprise” and, together with Comcast, the “Issuers”) had received tenders for an aggregate principal amount of $1,191,465,000 of the $1,500,000,000 total outstanding aggregate principal amount of its Senior Floating Rate Notes due April 2021 (the “NBCU Enterprise Notes” and, together with the Comcast Notes, the “Notes”), in each case in the cash tender offers announced on June 11, 2020, which were made pursuant to the Offer to Purchase and the related Letter of Transmittal and Notice of Guaranteed Delivery, each dated June 11, 2020 (the “Tender Offer Documents”). An additional $1,041,000 aggregate principal amount of the Comcast Notes were tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents.
The Issuers have accepted for purchase all Notes validly tendered and not validly withdrawn at or prior to the Expiration Time. Holders whose Notes have been accepted for purchase will also receive accrued and unpaid interest on the purchased Notes from the last interest payment date for such Notes up to, but excluding, the Settlement Date (as defined below). The Issuers also expect to accept Notes validly tendered and delivered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents. The Issuers will not accept any further tenders.
The Settlement Date for Notes validly tendered and not validly withdrawn at or prior to the Expiration Time is expected to be June 22, 2020. The purchase of the Notes will be funded by cash on hand.
Goldman Sachs & Co. LLC and MUFG Securities Americas Inc. served as Joint Dealer Managers for the tender offer.
This news release is neither an offer to purchase nor a solicitation of an offer to sell any securities. The tender offers were made only by, and pursuant to the terms of, the Tender Offer Documents. The tender offers were not made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction where the laws require the tender offers to be made by a licensed broker or dealer, the tender offers were made by the Joint Dealer Managers on behalf of the Issuers. None of the Issuers, the Tender and Information Agent or the Joint Dealer Managers, nor any of their affiliates, has made any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Notes in response to the tender offers.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three primary businesses: Comcast Cable Communications, LLC (“Comcast Cable”), NBCUniversal Media, LLC (“NBCUniversal”), and Sky Limited (“Sky”). Comcast Cable is one of the United States’ largest high-speed internet, video, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. Sky is one of Europe's leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communications services, including residential high-speed internet, phone, and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. Visit www.comcastcorporation.com for more information.
Forward-looking statements
This press release contains forward-looking statements. Readers are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. Readers are directed to Comcast’s periodic and other reports filed with the Securities and Exchange Commission (SEC) for a description of such risks and uncertainties. We undertake no obligation to update any forward-looking statements.
Our businesses may be affected by, among other things, the following:
You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them.
The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward Looking Statements” and “Risk Factors” in Comcast’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 as filed with the SEC.
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Investor Contacts: Marci Ryvicker (215) 286-4781 Jane Kearns (215) 286-4794 Marc Kaplan (215) 286-6527
Source: Comcast Corporation