July 2 (Bloomberg) -- Bonds of Comcast Corp. rose after the largest U.S. cable company sold $2.25 billion of debt last week in a two-part issue.
The company’s $1 billion of 3.125 percent notes maturing in July 2022 increased to 102 cents on the dollar to yield 2.89 percent, or 132 basis points more than similar-maturity Treasuries, at 1:33 p.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The securities were sold on June 26 at 99.91 cents and yielded 150 basis points more than Treasuries, according to data compiled by Bloomberg.
Comcast’s $1.25 billion of 4.65 percent, 30-year bonds also gained to 102.56 cents on the dollar, a relative yield of 183 basis points, according to Trace. The debentures were sold at 99.92 cents and yielded 195 basis points more than benchmarks, Bloomberg data show.
The television-services operator raised the debt as it plans to redeem $575 million of its 6.625 percent senior notes maturing in May 2056, the Philadelphia-based company said in a June 22 statement.
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