March 11 (Bloomberg) -- Viacom Inc., owner of the Paramount film studios and cable networks Nickelodeon and MTV, issued $550 million of unsecured bonds in a two-part deal, boosting the offering from an initial $500 million.
The company sold $300 million of 3.25 percent notes due 2023 that yield 130 basis points more than similar-maturity Treasuries and $250 million of 4.875 percent debt due June 2043 that pays 165 basis points more than benchmarks, according to data compiled by Bloomberg. The securities were rated Baa1 by Moody’s Investors Service, three levels above speculative grade, and were given an equivalent BBB+ at Standard & Poor’s.
Viacom’s $300 million of 3.125 percent notes due 2022 are its most actively traded debt security in the last 10 days, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The notes traded at about par on March 6, according to Trace.
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