LONDON (Alliance News) - Comcast Corp upped its bond sale to USD27 billion after a surge in investor orders, the Financial Times reported on Wednesday.
The US telecoms company raised the value of its "blockbuster" bond sale, initially marketed at USD20 billion, making its the fourth largest bond sale on record. The times spoke to two people "with knowledge of the sale" who said orders for Comcast's bonds hit the USD88 billion mark before the books closed.
Comcast will use the cash to fund its GBP30.6 billion acquisition of Sky PLC, having beaten Twenty-First Century Fox Inc in a day-long September auction.
The newspaper said there has been a "ravenous appetite for high-quality corporate debt" as a result of the US trade war with China and rising interest rates.
The funds were raised across 12 tranches of floating and fixed-rate bonds with maturities of between two and 40 years.
https://www.ft.com/content/f55c1c6a-c65d-11e8-ba8f-ee390057b8c9
