2017/12/corporate_2017_Import_Background_Fill.jpg
Investor

Comcast Corporation Issues $718 Million Exchangeable Debentures Due 2029

Philadelphia, PA.

Comcast Corporation announced today that it has sold 8,700,000 of its Exchangeable Extendable Subordinated Debentures due 2029 (PHONESSM) for an aggregate public offering price of $718 million. The debentures are exchangeable, at the holder's option and subject to certain conditions, into a cash amount which is based on the market value of a share of AT&T Corp. common stock. Interest on the debentures will be payable quarterly, beginning May 15th, at an initial rate of 3.35%. Both the interest rate and the amount payable at maturity are subject to adjustment based on changes in future AT&T dividend policy. The maturity of the debentures is conditionally extendable to 2059. Proceeds from the offering will be used for general corporate purposes.

Merrill Lynch & Co. acted as lead underwriter in connection with the offering. Credit Suisse First Boston, Goldman Sachs & Co., Salomon Smith Barney, Bear, Stearns & Co. Inc., Donaldson, Lufkin & Jenrette and Lazard Freres & Co. LLC acted as co-managers for the offering.

This press release appears a matter of record only. The securities described in this press release may only be offered and sold by means of the prospectus and prospectus supplement relating thereto, copies of which are available from the underwriters listed above.

Comcast Corporation (www.comcast.com) is principally engaged in the development, management and operation of broadband cable networks and in the provision of content through principal ownership of QVC, Comcast-Spectacor and Comcast SportsNet, a controlling interest in E! Entertainment Television and through other programming investments.

Comcast's Class A Special and Class A Common Stock are traded on The Nasdaq Stock Market under the symbols CMCSK and CMCSA, respectively.

© 2018 Comcast