ViacomCBS Announces $2.0 Billion Debt Offering

ViacomCBS Inc. (NASDAQ: VIAC, VIACA) today announced that it has agreed to sell $1.0 billion in aggregate principal amount of 4.200% senior notes due 2032 at a price equal to 97.395% of the principal amount thereof (the “2032 Senior Notes”) and $1.0 billion in aggregate principal amount of 4.950% senior notes due 2050 at a price equal to 94.987% of the principal amount thereof (the “2050 Senior Notes” and, together with the 2032 Senior Notes, the “Senior Notes”). The sale of the Senior Notes is expected to close on May 19, 2020, subject to customary closing conditions.

ViacomCBS intends to use the net proceeds for the purchase of notes tendered pursuant to previously announced concurrent tender offers and for the payment of related accrued interest, premiums, fees and expenses.

The joint book-running managers for the offering are Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC.

ViacomCBS’ senior unsecured debt is currently rated BBB (stable) by Fitch Ratings, Baa2 (stable) by Moody’s Investors Service and BBB (negative) by S&P Global Ratings.^*

The terms and conditions of the Senior Notes are set forth in a prospectus and related prospectus supplement, which can be obtained by contacting ViacomCBS Investor Relations at [phone] or by written request to ViacomCBS Inc., 1515 Broadway, 52nd Floor, New York, New York 10036, Attn: Investor Relations.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

^*A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

ABOUT VIACOMCBS

ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the US television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.