AT&T Corp. and Comcast Corp. said that they were investigating a swap of about $1 1.8 billion in debt currently on AT&T's books once the planned merger between AT&T Broadband and Comcast is completed in the fourth quarter. (Briefs).(Brief Article)
Multichannel News, August, 2002
NEW YORK -- AT&T Corp. and Comcast Corp. said that they were investigating a swap of about $1 1.8 billion in debt currently on AT&T's books once the planned merger between AT&T Broadband and Comcast is completed in the fourth quarter. AT&T said any deal would depend on market conditions.
According to a statement, AT&T said the exchange would occur in two separate transactions. The first would be an exchange of certain series of AT&T notes for new notes that would ultimately become obligations of AT&T Broadband Corp., a newly formed company to which AT&T will spin off its AT&T Broadband unit prior to completing the merger. AT&T Comcast Corp. and certain of its subsidiaries would guarantee these obligations upon completion of the merger. The second, which is...
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