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Viacom Announces $250 Million Debt Offering Of Senior Debentures

NEW YORK, Nov. 16, 2012 /PRNewswire-FirstCall/ -- Viacom Inc. (NASDAQ: VIAB, VIA) today announced that it has agreed to sell $250 million aggregate principal amount of 4.375% Senior Debentures due 2043 at a price equal to 97.755% of the principal amount thereof. The sale of the Senior Debentures due 2043 is expected to close on November 26, 2012.

(Logo:  http://photos.prnewswire.com/prnh/20110811/NY51392LOGO )

Viacom intends to use the net proceeds from the offering for general corporate purposes, including, but not limited to, the repayment of outstanding indebtedness and the repurchase of shares under its share repurchase program.

Viacom separately announced today that it intends to launch a private exchange offer to exchange any and all of its outstanding 6.875% Senior Debentures due 2036 and any and all of its outstanding 6.750% Senior Debentures due 2037 for Senior Debentures due 2043.  The Senior Debentures due 2043 being offered in the exchange offer will be a further issuance of, and will be in addition to, the Senior Debentures due 2043 being offered in the debt offering described above.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.  The Senior Debentures due 2043 to be offered have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold in the United States absent registration or pursuant to an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.  The Senior Debentures due 2043 will be offered inside the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.  This press release is being issued pursuant to Rule 135c under the Securities Act.

About Viacom

Viacom is home to the world's premier entertainment brands that connect with audiences through compelling content across television, motion picture, online and mobile platforms in over 160 countries and territories. With media networks reaching approximately 700 million global subscribers, Viacom's leading brands include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, SPIKE, Tr3s, Paramount Channel and VIVA. Paramount Pictures, celebrating its 100th year in 2012 and creator of many of the most beloved motion pictures, continues today as a major global producer and distributor of filmed entertainment. Viacom operates a large portfolio of branded digital media experiences, including many of the world's most popular properties for entertainment, community and casual online gaming.

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