AT&T Corp. and Comcast Corp. said they'll make an offer to exchange about
$11.8 billion in AT&T Broadband debt in a transaction tied to the AT&T
In the first part of the exchange, AT&T is offering to exchange AT&T
Broadband Eligible Notes that will become New Broadband Notes -- and obligations
of AT&T Comcast Corp. -- after the deal is done.
In the second part of the exchange, AT&T will refinance some of its own
debt, which will remain its sole obligation.