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Legal News

Cahill Represents Underwriters in 4th Largest Bond Sale

Date: 10/05/18

A Cahill Gordon & Reindel LLP capital markets team led by William Hartnett, Michael Reddy and Anthony Tama represented active book-runners BofA Merrill Lynch and Wells Fargo Securities and the other book-running managers and co-managers in the fourth largest bond sale to date.  The offering of $27 billion in new debt financing will fund Comcast’s multi-billion dollar acquisition of UK-based Sky plc.  

The proceeds of Comcast Corp’s twelve-tranche public offering of $1,250,000,000 aggregate principal amount of floating rate senior notes due 2020, $1,000,000,000 aggregate principal amount of floating rate senior notes due 2021, $500,000,000 aggregate principal amount of floating rate senior notes due 2024, $1,750,000,000 aggregate principal amount of 3.30% senior notes due 2020, $2,000,000,000 aggregate principal amount of 3.45% senior notes due 2021, $2,500,000,000 aggregate principal amount of 3.70% senior notes due 2024, $3,000,000,000 aggregate principal amount of 3.95% senior notes due 2025, $4,000,000,000 aggregate principal amount of 4.15% senior notes dues 2028, $1,500,000,000 aggregate principal amount of 4.25% senior notes due 2030, $3,000,000,000 aggregate principal amount of 4.60% senior notes due 2038, $4,000,000,000 aggregate principal amount of 4.70% senior notes due 2048 and $2,500,000,000 aggregate principal amount of 4.95% senior notes due 2058 is expected to be used for Comcast Corp’s purchase of the ordinary shares of Sky plc from Sky shareholders.  Cahill’s capital markets team on this transaction included Stephen Harper, Alex Kramer, Devon McLaughlin and Matthew Fagan.