October 7, 2016 / 5:36 PM / a year ago

BRIEF-CBS Corp announces pricing of debt financing by CBS Radio Inc

Oct 7 (Reuters) - CBS Corp:

* CBS Corporation announces pricing of debt financing by CBS Radio Inc

* Also announced that CBS Radio has established pricing for a $1.06 billion senior secured term loan B facility maturing in 2023

* Senior notes and term loan form part of $1.46 billion of total debt expected to be incurred in connection with separation of CBS Radio business

* CBS expects that substantially all of net proceeds from both notes and term loan will be distributed to CBS

* Priced an offering of $400 million in aggregate principal amount of 7.25% senior unsecured notes due 2024

* CBS Radio established pricing for a $1.06 billion senior secured term loan b facility at an interest rate of libor plus 3.50%

* CBS Radio is expected to enter into a $250 million senior secured revolving credit facility maturing in 2021 Source text for Eikon: Further company coverage:

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