Steve Mehs
11-12-02, 05:05 AM
AT&T and Comcast completed an exchange and consent offer related to $11.8 billion of AT&T's existing debt, the companies announced Monday.
An aggregate of approximately $8.5 billion of notes were tendered and about $8.2 billion of notes were accepted in the exchange offer. As part of the deal, the 66 2/3 percent note consent condition was met at approximately the 90 percent level, thereby satisfying one of the last remaining conditions to the closing of the merger between AT&T's Broadband cable TV unit and Comcast.
Chairman and Chief Executive-elect Dave Dorman said Monday that after the AT&T Broadband cable unit merges with Comcast, AT&T's remaining debt-to-EBITDA ratio will be about 1.3, which is at or below the company's current ratios for EBITDA.
The Federal Communications Commission is close to announcing its decision concerning the AT&T Broadband/Comcast merger. Some expect a decision will be delivered this week.
From SkyReport (http://www.skyreport.com/skyreport/nov2002/111202.shtm#two) (Used with Permission)
An aggregate of approximately $8.5 billion of notes were tendered and about $8.2 billion of notes were accepted in the exchange offer. As part of the deal, the 66 2/3 percent note consent condition was met at approximately the 90 percent level, thereby satisfying one of the last remaining conditions to the closing of the merger between AT&T's Broadband cable TV unit and Comcast.
Chairman and Chief Executive-elect Dave Dorman said Monday that after the AT&T Broadband cable unit merges with Comcast, AT&T's remaining debt-to-EBITDA ratio will be about 1.3, which is at or below the company's current ratios for EBITDA.
The Federal Communications Commission is close to announcing its decision concerning the AT&T Broadband/Comcast merger. Some expect a decision will be delivered this week.
From SkyReport (http://www.skyreport.com/skyreport/nov2002/111202.shtm#two) (Used with Permission)