Davis Polk advised Comcast Corporation on its $27 billion SEC-registered debt offering of three tranches of LIBOR-based floating-rate notes and nine tranches of fixed-rate notes with maturities ranging from two to forty years. Comcast intends to use the net proceeds of the offering, together with the net proceeds under its term loan facilities, to finance its acquisition of Sky plc.

Comcast is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services to residential customers under the XFINITY brand, and also provides these and other services to business customers and sells advertising. NBCUniversal operates national and international cable networks that provide a variety of entertainment, news and information, and sports content, the NBC and Telemundo broadcast networks, filmed entertainment businesses and theme parks.

The Davis Polk capital markets team included partner Bruce K. Dallas, counsel Jason Bassetti and associates Josephine Chen, Xin (Anita) Guo and Benson Richards. Managing Partner Thomas J. Reid and partners Will Pearce and Brian Wolfe, European counsel Simon J Little and associates Joseph Scrace, Ben Stewart, Rebecca Bundey, Evan Rosen and Sarah M. Weissman provided corporate advice. Partners Jason Kyrwood and Nick Benham, counsel Hilary Dengel and Aaron Ferner and associates Welton E. Blount, Patrick Ryan and Merinda Davis are also advising on debt financing of the transaction. The tax team included partner Rachel D. Kleinberg and associates Patrick E. Sigmon and Ariel David Siman. Members of the Davis Polk team are based in the Northern California, London and New York offices.

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