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CBS Prices Debt Offering Of $700 Mln Of 3.375% Senior Notes Due 2022

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CBS Corp. (CBS: Quote, CBS_A) announced the pricing of a debt offering of $700 million of 3.375% senior notes due 2022.

The company said that it intends to use the net proceeds from this offering, after deducting related fees and expenses, to repurchase or repay outstanding indebtedness, including the redemption of some or all of its $700 million of outstanding 6.75% senior notes due 2056. The remaining net proceeds, if any, will be used for general corporate purposes.

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by RTT Staff Writer

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Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
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