Comcast: AT&T Funding 80% Done

Author:
Publish date:

Comcast Corp. executives said the company's pending purchase of AT&T
Broadband was on track, with about 80 percent of the required funding
assembled.

Comcast has already secured from five different banks about $10 billion of
the $11 billion to $14 billion needed to service AT&T Broadband's debt and
handle capital issues, executive vice president and treasurer John Alchin said,
speaking at the Bear Stearns & Co. Media, Entertainment &
Telecommunications conference March 4 in Palm Beach, Fla.

The merger is expected to close this year.

He said that although Comcast may seek more loans from other lenders, it
could also tap a $4.5 billion 'liquidity cushion' in existing bank
facilities.

'We feel very good about the fact that we've been able to put this in place
in a marketplace that has been relatively tight for new issuers,' Alchin
said.

Related