Comcast announces pricing for $3.75 billion debt tender offers

Comcast Corporation (NASDAQ: CMCSA) and its subsidiary Comcast Cable Communications announced pricing terms for cash tender offers to purchase up to $3.75 billion of outstanding senior debt securities across 13 different note series.

The offers cover notes maturing between 2027 and 2030, with interest rates ranging from 2.350% to 8.500%. The largest individual series targeted is Comcast's $3.22 billion of 4.150% notes due 2028, which carries a total consideration of $997.84 per $1,000 principal amount.

The tender offers expire at 5:00 p.m. Eastern time on June 2, 2026, with settlement expected on June 5, 2026. Notes are prioritized by acceptance levels, with Comcast's 2.350% notes due 2027 receiving the highest priority and the company's 2.650% notes due 2030 receiving the lowest priority among the 13 series.

The acceptance of notes is subject to an aggregate consideration cap of $3.75 billion. If the cap is reached, notes will be accepted based on their priority ranking, with no series subject to proration.

Holders whose notes are accepted will receive the specified total consideration plus accrued interest from the last payment date to the settlement date. Morgan Stanley and Wells Fargo Securities are serving as dealer managers for the offers.

The company noted that completion of the offers is subject to various conditions outlined in the offer documents, and reserves the right to increase or waive the consideration cap amount.

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