Comcast sold US$27bn of unsecured bonds in 12 parts and was able to cut the cost of its sale as investors put in orders for around US$88bn of the debt.
It follows a protracted battle for Europe’s largest satellite broadcaster. Comcast won the war last month by outbidding Rupert Murdoch's 21st Century Fox Inc (NASDAQ:FOX) in an auction process instigated in September by the UK's takeover panel with a knockout bid of 1,728p per share, valuing the company at US$39bn (£30bn).
Fox, which is in the process of selling itself to Walt Disney Co, sold its 39% stake in Sky to Comcast after the auction, giving Comcast full control of the UK-based firm. Comcast's offer was significantly higher than Fox's bid of 1,567p per share.
By owning all of Sky, Comcast’s debt is expected to almost double to US$114bn.