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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Viatris Inc | TG:VIA | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.035 | 0.33% | 10.52 | 10.455 | 10.585 | 10.705 | 10.415 | 10.50 | 5,952 | 22:50:19 |
From Feb 2020 to Feb 2025
DOW JONES NEWSWIRES
Viacom Inc. (VIA) will offer $750 million in seven-year senior notes and use the proceeds to buy back its 5.75% senior notes due 2011.
The media company, which owns cable-TV channels such as MTV and Comedy Central, has seen its media business hurt by declining advertising sales and has been trying to rejuvenate the performance of its film studio, Paramount Pictures.
The company joins a host of others taking advantage of renewed interest in the debt market to raise cash.
Last month, Viacom reported it had $7.37 billion in total debt outstanding and that its cash balance was $250 million, down from $750 million as of Dec. 31.
The company said if any proceeds remain it will repay borrowings under its credit facility or its commercial paper program. Viacom will pay $1,061.25 for every $1,000 principal notes tendered to its buyback offer.
The tender offer will expire at 5 p.m. EDT Aug. 27.
Viacom's shares closed Tuesday at $24.85 and haven't traded premarket.
-By Kerry Grace Benn, Dow Jones Newswires; 212-416-2353; kerry.benn@dowjones.com
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