Reuters is reporting that CBS Radio, which the CBS mothership is planning to shed, is preparing to take on $1.5 billion in debt ahead of its IPO and use the proceeds to pay CBS Corp. Reuters reports that CBS’s debt offering will be split between bonds and loans, and could happen this year.
The CBS IPO for radio was registered in July with the SEC. Goldman Sachs, Wells Fargo, Bank of America, and Credit Suisse are underwriters on the IPO, according to Reuters. JPMorgan Chase is leading the bank financing, and Deutsche Bank AG is running the bond financing.
1 million or 1 billion… just a slight difference