NEW YORK, Dec. 6 /PRNewswire-FirstCall/ -- Viacom Inc. has announced the pricing of a $750 million retail debt offering of 6.85% senior notes due 2055 at a price equal to 100% of the principal amount thereof. Viacom intends to use the net proceeds of the offering to repay a portion of the amounts outstanding under its existing credit facilities and its commercial paper program.
The joint lead and joint book managers for the offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wachovia Capital Markets, LLC. Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated and UBS Securities LLC are senior co-managers on the deal. The offering provides for an over-allotment option to the underwriters of up to 15% of the offering.
Viacom's senior unsecured debt is currently rated BBB by Standard & Poor's, Baa3 by Moody's Investors Service and BBB by Fitch.
A prospectus can be obtained by contacting Viacom Investor Relations at 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 a leading global entertainment content company, with prominent and respected brands in focused demographics. Engaging its audiences through television, motion pictures and digital platforms, Viacom reaches its audiences wherever they consume content. Viacom's leading brands include the multiplatform properties of MTV Networks, including MTV, VH1, Nickelodeon, Nick at Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land, Logo and more than 130 networks around the world, as well as digital assets such as Neopets, Xfire and Atom Entertainment; BET Networks; Paramount Pictures; Paramount Home Entertainment; DreamWorks; and Famous Music. More information about Viacom and its businesses is available at http://www.viacom.com/.
Cautionary Statement Concerning Forward-looking Statements.
This news release contains both historical and forward-looking statements. All statements which are not statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not based on historical facts, but rather reflect the Company's current expectations concerning future results and events. Similarly, statements that describe the Company's objectives, plans or goals are or may be forward-looking statements. These forward- looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others, the factors described in the Company's news releases and filings with the Securities and Exchange Commission, including but not limited to the Company's 2005 Annual Report as filed on Form 10-K on March 16, 2006 and the Quarterly Reports on Form 10-Q for the periods ended March 31, 2006, June 30, 2006 and September 30, 2006. The forward-looking statements included in this document are made only as of the date of this document, and, under section 27A of the Securities Act and section 21E of the Exchange Act, the Company does not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.
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