NEW YORK, June 26, 2017 /PRNewswire/ -- CBS Corporation
(NYSE: CBS.A and CBS) today announced the full redemption of its
outstanding 4.625% senior notes due May 15,
2018. The redemption date is July 26,
2017.
The total redemption payment for the notes is equal to the sum
of the principal amount of the notes outstanding, the make-whole
amount calculated in accordance with the terms of the notes and the
related indenture under which the notes were issued, and the
accrued and unpaid interest on the notes up to, but excluding, the
redemption date of July 26, 2017. The
aggregate principal amount of the notes outstanding on June 26, 2017, is $300
million.
Holders owning notes through a broker, bank, or other
nominee should contact that party for information. For more
information, holders of notes may call the paying agent for the
redemption, the Bank of New York Mellon at (800)
254-2826.
Disclosure Notice
Certain statements in this
release are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
indicated in the forward-looking statements. Important factors that
could cause actual results to differ materially from our
expectations include, without limitation: changes in legislation,
tax rules or market conditions; other domestic and global economic,
business, competitive and/or regulatory factors affecting CBS
Corporation's businesses; the ability to achieve the separation of
CBS Corporation's radio business on the anticipated terms; and
other factors described in CBS Corporation's filings with the SEC
including, but not limited to, its most recent Forms 10-K, 10-Q and
8-K. You should not place undue reliance on these forward-looking
statements, which apply only as of the time of this news release.
Except to the extent required by applicable securities laws, we do
not undertake any obligation to update any forward-looking
statements contained in this release as a result of new information
or future events or developments.
About CBS Corporation
CBS Corporation (NYSE: CBS.A
and CBS) is a mass media company that creates and distributes
industry-leading content across a variety of platforms to audiences
around the world. The Company has businesses with origins that date
back to the dawn of the broadcasting age as well as new ventures
that operate on the leading edge of media. CBS owns the
most-watched television network in the U.S. and one of the world's
largest libraries of entertainment content, making its brand — "the
Eye" — one of the most recognized in business. The Company's
operations span virtually every field of media and entertainment,
including cable, publishing, radio, local TV, film, and interactive
and socially responsible media. CBS's businesses include CBS
Television Network, The CW (a joint venture between CBS Corporation
and Warner Bros. Entertainment), CBS Television Studios, CBS
Studios International, CBS Television Distribution, CBS Consumer
Products, CBS Home Entertainment, CBS Interactive, CBS Films,
Showtime Networks, CBS Sports Network, Pop (a joint venture between
CBS Corporation and Lionsgate), Smithsonian Networks, Simon &
Schuster, CBS Television Stations, CBS Radio and CBS EcoMedia. For
more information, go to www.cbscorporation.com.
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SOURCE CBS Corporation