Media and telecommunications giant Comcast Corporation (NASDAQ: CMCSA) and its wholly-owned subsidiary, Comcast Cable Communications, LLC, announced today the commencement of a cash tender offer to repurchase 13 series of outstanding senior notes, with an aggregate principal amount of approximately $15.2 billion.

The offer covers 11 series of notes issued by Comcast Corporation, with maturities ranging from 2027 to 2030 and interest rates between 2.350% and 5.100%, as well as two series of notes issued by Comcast Cable Communications, LLC, specifically the 8.500% notes due 2027 and the 7.125% notes due 2028. Tenders of notes in each series will be accepted in order of priority, with the 2.350% notes due January 2027 having the highest priority. This debt repurchase represents approximately 16% of the company's total debt of $94.6 billion.

The offer is subject to a maximum aggregate purchase price of $3.75 billion. If the total principal amount of notes tendered exceeds this cap, the company will accept notes on a priority basis. The purchase price for each series will be calculated based on a fixed spread, ranging from 5 to 35 basis points above the yield of the corresponding U.S. Treasury reference security. The final pricing will be determined at 2:00 p.m. Eastern Time on June 2, 2026.

The offer will expire at 5:00 p.m. Eastern Time on June 2, 2026, at which point holders may no longer withdraw tendered notes. Holders using the guaranteed delivery procedures must complete their delivery by 5:00 p.m. Eastern Time on June 4, 2026. The expected settlement date is June 5, 2026. Holders whose notes are accepted will receive the total purchase price plus accrued and unpaid interest up to the settlement date.

According to the company's first-quarter 2026 financial report, total debt decreased to $82.0 billion as of March 31, down from $87.4 billion a year earlier. Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as the dealer managers for the offer. Global Bondholder Services Corporation is serving as the information and tender agent. The offer is not conditioned on any minimum amount of notes being tendered and is not subject to financing conditions.