Fox Borrows $6.8 Billion to Help Fund Dividend in Disney Deal
- Unit of 21st Century Fox to be spun off per acquisition
- Bond proceeds, cash to fund one-time $8.5 billion payment
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Fox Corp. sold bonds to help finance a special dividend related to its acquisition by Walt Disney Co.
The unit of 21st Century Fox Inc. issued $6.8 billion of senior unsecured bonds in five parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, will yield 2.5 percentage points above Treasuries, after initial talk of around 2.7 percentage points, said the person, who asked not to be identified as the details are private.