ViacomCBS on Friday said it will redeem $800 million in senior secured notes that mature in 2021. The studio said it will pay off all of its outstanding 4.30 percent senior notes due on February 15, 2021, and with a redemption date of May 4, 2020, and all of its outstanding 4.5 percent senior notes due March 1, 2021, and to be redeemed by May 18, 2020.
The move follows ViacomCBS on March 27 indicating it had raised $2.5 billion with an eye to reducing its debt obligations. ViacomCBS last month agreed to sell $1.25 billion in 4.750 percent senior notes due 2025, and another $1.25 billion in 4.950 percent senior notes due 2031.