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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Comcast Corporation | NASDAQ:CMCSA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.12 | -0.31% | 39.00 | 39.00 | 39.10 | 39.42 | 38.88 | 39.31 | 20,450,109 | 00:50:00 |
Filed Pursuant to Rule 433
Registration Statement Number 333-232941
May 20, 2020
COMCAST CORPORATION
$1,500,000,000 1.950% NOTES DUE 2031
$800,000,000 3.750% NOTES DUE 2040
$1,700,000,000 2.800% NOTES DUE 2051
Final Term Sheet
Issuer |
Comcast Corporation (the “Company”)
|
Guarantors |
Comcast Cable Communications, LLC and NBCUniversal Media, LLC
|
Issue of Securities |
1.950% Notes due 2031
3.750% Notes due 2040
2.800% Notes due 2051
The 3.750% Notes due 2040 offered hereby (the “New 2040 Notes”) will form a part of the series of the Company’s currently outstanding 3.750% Notes due 2040 issued on March 27, 2020 (the “Existing 2040 Notes”), and will have the same terms as the Existing 2040 Notes, except the issue date and the offering price. The New 2040 Notes will have the same CUSIP number and ISIN as the Existing 2040 Notes and will trade interchangeably with the Existing 2040 Notes immediately upon settlement. The New 2040 Notes and the Existing 2040 Notes will constitute a single series under the Indenture for all purposes and will be fungible for U.S. federal income tax purposes. Upon issuance of the New 2040 Notes, the aggregate principal amount outstanding of the 3.750% Notes due 2040 will be $1,600,000,000.
|
Denominations |
$2,000 and multiples of $1,000 in excess thereof
|
Use of Proceeds |
The Company intends to use the net proceeds from the offering entirely for the refinancing of outstanding debt, including its 1.625% notes due January 15, 2022 ($700 million principal amount outstanding as of the date hereof), its 4.05% notes due August 1, 2046 ($1.43 billion principal amount outstanding as of the date hereof) and certain of its other debt securities with near term maturities. Affiliates of certain of the underwriters may be holders of the 1.625% notes due January 15, 2022 and 4.05% notes due August 1, 2046 and, accordingly, may receive a portion of the net proceeds from this offering.
|
Indenture | Indenture dated as of September 18, 2013 by and among the Company, the guarantors named therein and The Bank of New York Mellon, as trustee (the “Trustee”), as amended by the First Supplemental Indenture dated as of November 17, 2015 by and among the Company, the |
guarantors named therein and the Trustee.
|
|
Trustee |
The Bank of New York Mellon
|
Expected Ratings1 |
Moody’s: A3; S&P: A-; Fitch: A-
|
Joint Book-Running Managers |
Goldman Sachs & Co. LLC
|
Co-Managers |
BofA Securities, Inc.
Barclays Capital Inc.
BNP Paribas Securities Corp.
Citigroup Global Markets Inc.
J.P. Morgan Securities LLC
Mizuho Securities USA LLC
Santander Investment Securities Inc.
SMBC Nikko Securities America, Inc.
TD Securities (USA) LLC
Wells Fargo Securities, LLC
DNB Markets, Inc.
ICBC Standard Bank Plc
PNC Capital Markets LLC
SG Americas Securities, LLC
U.S. Bancorp Investments, Inc.
Academy Securities, Inc.
Loop Capital Markets LLC
BNY Mellon Capital Markets, LLC
ING Financial Markets LLC
Blaylock Van, LLC
Drexel Hamilton, LLC
Mischler Financial Group, Inc.
Multi-Bank Securities, Inc.
Samuel A. Ramirez & Company, Inc.
Siebert Williams Shank & Co., LLC
|
Trade Date |
May 20, 2020
|
Settlement Date |
May 28, 2020 (T+5)
|
Risk Factors | Investing in the notes involves certain risks. See “Item 1A-Risk Factors” beginning on page 20 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Please also read carefully the risk factor “The COVID-19 pandemic could have a material adverse effect on our businesses and results of operations” on page 35 of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. |
________________
1 A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
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It is expected that delivery of the notes will be made against payment therefor on or about May 28, 2020, which is the fifth business day following the date hereof (such settlement cycle being referred to as “T+5”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the second business day prior to the settlement date will be required, by virtue of the fact that the notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs & Co. LLC at 1-866-471-2526, Credit Suisse Securities (USA) LLC at 1-800-221-1037, Deutsche Bank Securities Inc. at 1-800-503-4611 and RBC Capital Markets, LLC at 1-866-375-6829.
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