The Sprint-Softbank transaction probably won’t change the amount of interest...
The Sprint-Softbank transaction probably won’t change the amount of interest paid or the amount due upon the maturity of Comcast Holdings’ 2 percent exchangeable subordinated notes due 2029, or its 2 percent exchangeable subordinated notes due November 2029, the cable…
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operator said in an SEC filing. “Comcast has concluded that, as currently structured, the Sprint Softbank transaction constitutes a ‘Reference Share Offer,'” for the purposes of the notes, it said. “Subject to market conditions and possible future changes in the terms of the Sprint Softbank transaction, Comcast Holdings expects to elect to increase the ‘Early Exchange Ratio'” of the notes from 95 percent to 100 percent, while the transaction is pending, instead of making a “reference share offer adjustment,” it said. “There will be no changes in the payment terms” of the notes except “that upon consummation of the Sprint Softbank transaction, the Reference Shares underlying each … will change from shares of Sprint Nextel common stock to an equivalent number of shares of New Sprint common stock."