CBS Corporation (NYSE: CBS.A - News and CBS - News) announced today the re-opening of the Company's 8.875% senior notes due 2019 for an additional $250 million. CBS Corporation intends to use the net proceeds of the offering for general corporate purposes, including the repayment of existing indebtedness.
The Company previously issued $350 million of its 8.875% senior notes due 2019 on May 13, 2009. Today's debt offering is an additional issuance of the same series of senior notes. These two issuances, along with the $400 million of 8.20% senior notes due 2014 issued by the Company on May 13, 2009, bring the Company's total senior notes offerings for the month to $1 billion.
The joint lead and joint book managers for the offering are Banc of America Securities LLC, Citi, J.P. Morgan Securities Inc. and UBS Securities LLC.
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