UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 19, 2015
Comcast Corporation
(Exact Name of Registrant as Specified in Charter)
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Pennsylvania |
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(State or other jurisdiction
of incorporation) |
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001-32871 |
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27-0000798 |
(Commission
File Number) |
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(IRS Employer
Identification No.) |
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One Comcast Center
Philadelphia, PA |
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19103-2838 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone
number, including area code: (215) 286-1700
(Former Name or
Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On May 27, 2015 Comcast Corporation (Comcast) has
consummated the issuance and sale of $1,500,000,000 aggregate principal amount of its 3.375% Notes due 2025, $800,000,000 aggregate principal amount of its 4.400% Notes due 2035 and $1,700,000,000 aggregate principal amount of its 4.600% Notes due
2045 (collectively, the Notes), pursuant to an underwriting agreement dated May 19, 2015 among Comcast, the Guarantors (defined below) and Citigroup Global Markets Inc., Goldman, Sachs & Co. and Morgan Stanley &
Co. LLC, as representatives of the several underwriters named therein. The Notes were issued pursuant to an Indenture dated as of September 18, 2013 (the Indenture) among Comcast, the guarantors named therein and The Bank of New
York Mellon, as trustee (the Trustee), and an officers certificate issued pursuant thereto. The Notes are guaranteed on an unsecured and unsubordinated basis by Comcast Cable Communications, LLC, Comcast Cable Holdings, LLC,
Comcast MO Group, Inc., Comcast MO of Delaware, LLC and NBCUniversal Media, LLC (the Guarantors).
The Notes are being offered
pursuant to Comcasts Registration Statement on Form S-3 filed on September 18, 2013, as amended on February 19, 2014 (Reg. No. 333-191239), including the prospectus contained therein, and a related prospectus supplement dated
May 19, 2015.
The material terms and conditions of the Notes are set forth in the Form of Officers Certificate filed herewith
as Exhibit 4.1 and incorporated by reference herein and in the Indenture filed as Exhibit 4.3 to Comcasts Registration Statement on Form S-3 filed on September 18, 2013, as amended on February 19, 2014.
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Exhibit Number |
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Description |
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4.1 |
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Form of Officers Certificate setting forth the terms of the Notes |
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5.1 |
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Opinion of Arthur R. Block, Esq. |
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5.2 |
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Opinion of Davis Polk & Wardwell LLP |
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23.1 |
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Consent of Arthur R. Block, Esq. (contained in Exhibit 5.1) |
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23.2 |
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Consent of Davis Polk & Wardwell LLP (contained in Exhibit 5.2) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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COMCAST CORPORATION |
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Date: May 27, 2015 |
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By: |
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/s/ Arthur R. Block |
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Name: |
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Arthur R. Block |
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Title: |
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Executive Vice President, General Counsel and Secretary |
Exhibit 4.1
[FORM OF OFFICERS CERTIFICATE]
COMCAST CORPORATION
Officers Certificate
May 27, 2015
Pursuant to Section 2.03 of the Indenture dated as of September 18, 2013 (the Indenture) by and among Comcast
Corporation (the Company), the guarantors named therein and The Bank of New York Mellon, as trustee (the Trustee), and guaranteed on an unsecured and unsubordinated basis by Comcast Cable Communications, LLC,
Comcast Cable Holdings, LLC, Comcast MO Group, Inc., Comcast MO of Delaware, LLC and NBCUniversal Media, LLC, the undersigned officers of the Company do hereby certify, in connection with the issuance of the Companys $1,500,000,000 aggregate
principal amount of 3.375% Notes Due 2025 (the 2025 Notes), $800,000,000 aggregate principal amount of 4.400% Notes Due 2035 (the 2035 Notes) and $1,700,000,000 aggregate principal amount of 4.600% Notes Due
2045 (the 2045 Notes and, together with the 2025 Notes and 2035 Notes, the Notes), that the terms of the Notes are as follows:
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3.375% Notes Due 2025 |
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Title: |
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3.375% Notes Due 2025 |
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Aggregate Principal Amount at Maturity: |
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$1,500,000,000 |
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Principal Payment Date: |
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August 15, 2025 |
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Interest: |
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3.375% |
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Redemption: |
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The Company may at its option redeem the 2025 Notes in whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each
holder of the 2025 Notes, at the Redemption Price. Prior to May 15, 2025 (three months prior to the maturity of the Notes due 2025), |
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the Redemption Price is the greater of (i) 100% of the principal amount of the 2025 Notes, and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued
to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the 2025 Notes) plus 20 basis points. On and after May 15, 2025
(three months prior to the maturity of the 2025 Notes), the Redemption Price will equal 100% of the principal amount of such notes. In each case described in this paragraph, the Redemption Price will include accrued and unpaid interest thereon to
the date of redemption, and in each case described in this paragraph, subject to the further description in the Prospectus Supplement dated May 19, 2015. |
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Additional Issuances: |
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The 2025 Notes need not be issued at the same time and the series may be reopened for issuance of an unlimited principal amount of additional 2025 Notes under this series. Additional 2025 Notes of this series may be consolidated
with, and form a single series with, 2025 Notes then outstanding, including for purposes of determining whether the required percentage of the holders of record has given approval or consent to an amendment or waiver or joined in directing the
Trustee to take certain actions on behalf of all holders. |
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Conversion: |
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None |
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Sinking Fund: |
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None |
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Miscellaneous: |
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The terms of the 2025 Notes shall include such other terms as are set forth in the Form of Notes Due 2025 attached hereto as Exhibit A. |
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4.400% Notes Due 2035 |
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Title: |
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4.400% Notes Due 2035 |
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Aggregate Principal Amount at Maturity: |
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$800,000,000 |
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Principal Payment Date: |
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August 15, 2035 |
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Interest: |
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4.400% |
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Redemption: |
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The Company may at its option redeem the 2035 Notes in whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each
holder of the 2035 Notes, at the Redemption Price. Prior to February 15, 2035 (six months prior to the maturity of the 2035 Notes), the Redemption Price is the greater of (i) 100% of the principal amount of the 2035 Notes, and (ii) the
sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined in the 2035 Notes) plus 20 basis points. On and after February 15, 2035 (six months prior to the maturity of the 2035 Notes), the Redemption Price will equal 100% of the principal amount of
such notes. In each case described in this paragraph, the Redemption Price will include accrued and unpaid interest thereon to the date of redemption, and in each case described in this paragraph, subject to the further description in the Prospectus
Supplement dated May 19, 2015. |
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Additional Issuances: |
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The 2035 Notes need not be issued at the same time and the series may be reopened for issuance of an unlimited principal amount of additional 2035 Notes under this series. Additional 2035 Notes of this series may be consolidated
with, and form a single series with, 2035 Notes then outstanding, including for purposes of determining whether the required percentage of the holders of record has given approval or consent to an amendment or waiver or joined in directing the
Trustee to take certain actions on behalf of all holders. |
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Conversion: |
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None |
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Sinking Fund: |
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None |
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Miscellaneous: |
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The terms of the 2035 Notes shall include such other terms as are set forth in the Form of Notes Due 2035 attached hereto as Exhibit B. |
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4.600% Notes Due 2045 |
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Title: |
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4.600% Notes Due 2045 |
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Aggregate Principal Amount at Maturity: |
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$1,700,000,000 |
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Principal Payment Date: |
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August 15, 2045 |
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Interest: |
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4.600% |
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Redemption: |
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The Company may at its option redeem the 2045 Notes in whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each
holder of the 2045 Notes, at the Redemption Price. Prior to February 15, 2045 (six months prior to the maturity of the 2045 Notes), the Redemption Price is the greater of (i) 100% of the principal amount of the 2045 Notes, and (ii) the
sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined in the 2045 Notes) plus 25 basis points. On and after February 15, 2045 (six months prior to the maturity of the 2045 Notes), the Redemption Price will equal 100% of the principal amount of
such notes. In each case described in this paragraph, the Redemption Price will include accrued and unpaid interest thereon to the date of redemption, and in each case described in this paragraph, subject to the further description in the Prospectus
Supplement dated May 19, 2015. |
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Additional Issuances: |
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The 2045 Notes need not be issued at the same time and the series may be reopened for issuance of an unlimited principal amount of additional 2045 Notes under this series. Additional 2045 Notes of this series may be consolidated
with, and form a single series with, 2045 Notes then outstanding, including for purposes of determining whether the required percentage of the holders of record has given approval or consent to an amendment or waiver or joined in directing the
Trustee to take certain actions on behalf of all holders. |
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Conversion: |
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None |
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Sinking Fund: |
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None |
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Miscellaneous: |
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The terms of the 2045 Notes shall include such other terms as are set forth in the Form of Notes Due 2045 attached hereto as Exhibit C. |
Each such officer has read and understands the provisions of the Indenture and the definitions relating thereto. The
statements made in this Officers Certificate are based upon the examination of the provisions of the Indenture and upon the relevant books and records of the Company. In such officers opinion, he has made such examination or
investigation as is necessary to enable such officer to express an informed opinion as to whether or not the covenants and conditions of such Indenture relating to the issuance and authentication of the Notes have been complied with. In such
officers opinion, such covenants and conditions have been complied with.
IN WITNESS WHEREOF, the undersigned officers of the Company have duly executed this certificate
as of the date first set forth above.
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By: |
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Name: |
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William E. Dordelman |
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Title: |
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Senior Vice President and Treasurer |
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By: |
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Name: |
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Arthur R. Block |
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Title: |
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Executive Vice President, General Counsel and Secretary |
[Signature Page to Officers Certificate Pursuant to the Indenture]
EXHIBIT A
[FORM OF NOTE DUE 2025]
UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (DTC), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
COMCAST CORPORATION
3.375% Note Due 2025
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No. [ ] |
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CUSIP No.: 20030N BN0 |
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ISIN No.: US20030NBN03 |
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$[ ] |
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer, which term includes any
successor corporation), for value received promises to pay to CEDE & CO. or registered assigns, the principal sum of $[ ] ([ ] Million Dollars) on
August 15, 2025.
Interest Payment Dates: February 15 and August 15 (each, an Interest Payment Date),
commencing on August 15, 2015.
Interest Record Dates: February 1 and August 1 (each, an Interest Record
Date).
Reference is made to the further provisions of this Security contained herein, which will for all purposes have the same
effect as if set forth at this place.
IN WITNESS WHEREOF, the Issuer has caused this Security to be signed manually or by facsimile by
its duly authorized officer under its corporate seal.
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COMCAST CORPORATION |
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By: |
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Name: |
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William E. Dordelman |
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Title: |
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Senior Vice President and Treasurer |
[Seal of Comcast Corporation]
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Attest: |
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By: |
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Name: |
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Arthur R. Block |
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Title: |
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Executive Vice President, General Counsel and Secretary |
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This is one of the series designated herein and referred to in the within-mentioned Indenture.
Dated: May 27, 2015
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THE BANK OF NEW YORK MELLON, as Trustee |
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By: |
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Authorized Signatory |
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(REVERSE OF SECURITY)
COMCAST CORPORATION
3.375% Note
Due 2025
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer),
promises to pay interest on the principal amount of this Security at the rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
May 27, 2015. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing August 15, 2015. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Securities and on overdue installments
of interest (without regard to any applicable grace periods) to the extent lawful.
The Issuer shall pay interest on the Securities (except defaulted interest)
to the persons who are the registered Holders at the close of business on the Interest Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to such Interest Record Date and
prior to such Interest Payment Date. Holders must surrender Securities to The Bank of New York Mellon (the Trustee) to collect principal payments. The Issuer shall pay principal and interest in money of the United States that at
the time of payment is legal tender for payment of public and private debts (U.S. Legal Tender). However, the payments of interest, and any portion of the principal (other than interest payable at maturity or on any redemption or
repayment date or the final payment of principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Issuer and the
Paying Agent or the Issuer), directly to a Holder (by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and
designating the bank account to which such payments shall be so made and in the case of payments of principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating the same principal amount as the unredeemed
principal amount of the Securities surrendered.
Initially, the Trustee will act as Paying Agent. The Issuer may change any
Paying Agent without notice to the Holders.
The Issuer issued the Securities under an Indenture dated as of September 18,
2013 (the Indenture) by and among the Issuer, the guarantors named therein (the Guarantors) and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The
terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the TIA), as in effect on the date of the
Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the Securities are subject to all such
terms, and Holders of Securities are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and this Security are inconsistent, the terms of the Indenture shall govern.
Each Guarantor has irrevocably, fully and unconditionally guaranteed, jointly and
severally, on an unsecured basis, the full and punctual payment (whether at maturity, upon redemption or otherwise) of the principal of and interest on, and all other amounts payable under, the Securities, and the full and punctual payment of all
other amounts payable by the Issuer under the Indenture, subject to certain terms and conditions set forth in the Indenture.
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Denominations; Transfer; Exchange. |
The Securities are in registered form, without coupons, in
denominations of $2,000 and multiples of $1,000 in excess thereof. A Holder shall register the transfer of or exchange Securities in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any
Securities or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer or exchange any security selected for redemption in whole or in part.
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Persons Deemed Owners. |
The registered Holder of a Security shall be treated as the owner of it
for all purposes.
If funds for the payment of principal or interest remain unclaimed for two
years, the Trustee and the Paying Agent will repay the funds to the Issuer at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.
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Legal Defeasance and Covenant Defeasance. |
The Issuer and the Guarantors may be discharged from
their respective obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions thereof, and may be discharged from obligations to comply with certain covenants contained in the Securities and
in the Indenture with respect to the Securities, in each case upon satisfaction of certain conditions specified in the Indenture.
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Amendment; Supplement; Waiver. |
Subject to certain exceptions, the Securities and the
provisions of the Indenture relating to the Securities may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and any existing Default or Event
of Default or compliance with certain provisions may be waived with the consent of the Holders of a majority in aggregate principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of certificated Securities or comply with any requirements of the
Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights of any Holder of a Security.
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Restrictive Covenants. |
The Indenture contains certain covenants that, among other things,
limit the ability of the Issuer and the Guarantors to incur liens securing indebtedness, or to enter into sale and leaseback transactions, and of the Issuer to merge or sell all or substantially all of its assets. The limitations are subject to a
number of important qualifications and exceptions. The Issuer must annually report to the Trustee on compliance with such limitations.
The Issuer will have the right at its option to redeem any of the Securities in
whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each Holder of the Securities, at the applicable Redemption Price.
Redemption Price means (a) at any time prior to May 15, 2025 (three months prior to the maturity of the
Securities), the greater of (i) 100% of the principal amount of such Securities and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of
redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points and (b) if the Securities are redeemed on or after May 15, 2025
(three months prior to the maturity of the Securities) 100% of the principal amount of such Securities; plus, in each case, accrued and unpaid interest thereon to the date of redemption.
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Treasury Rate means, with respect to any redemption date, the rate per annum
equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date.
Comparable Treasury Issue means the United States Treasury
security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Securities.
Independent Investment Banker means one of the Reference Treasury Dealers appointed by the Issuer.
Comparable Treasury Price means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (ii) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of
all such quotations.
Reference Treasury Dealer means each of Citigroup Global Markets Inc., Goldman, Sachs &
Co. and Morgan Stanley & Co. LLC, or their affiliates which are primary United States Government Securities dealers, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary
United States government securities dealer in the United States (a Primary Treasury Dealer), the Issuer will substitute therefor another Primary Treasury Dealer.
Reference Treasury Dealer Quotation means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such
Reference Treasury Dealer at 3:30 pm New York time on the third business day preceding such redemption date.
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On and after the redemption date, interest will cease to accrue on the Securities or any portion
of the Securities called for redemption (unless the Issuer. defaults in the payment of the redemption price and accrued interest). On or before the redemption date, the Issuer will deposit with the Trustee money sufficient to pay the redemption
price of and (unless the redemption date shall be an Interest Payment Date) accrued interest to the redemption date on the Securities to be redeemed on such date. If less than all of the Securities are to be redeemed, the Securities to be redeemed
shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate (provided that Securities represented by a Global Security will be selected for redemption by the Depositary in accordance with its standard procedures
therefor).
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Defaults and Remedies. |
If an Event of Default (other than certain bankruptcy Events of Default
with respect to the Issuer or any of the Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of Securities then outstanding may declare all of the Securities to be due and payable
immediately in the manner and with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer or any of the Guarantors occurs and is continuing, all the Securities shall be immediately due and payable
immediately in the manner and with the effect provided in the Indenture without any notice or other action on the part of the Trustee or any Holder. Holders of Securities may not enforce the Indenture, the Securities or the Guarantees except as
provided in the Indenture. The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders
of a majority in aggregate principal amount of the Securities then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of
Default if it determines that withholding notice is in their interest.
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Trustee Dealings with Issuer. |
The Trustee under the Indenture, in its individual or any other
capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as if it were not the Trustee.
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No Recourse Against Others. |
No stockholder, director, officer, employee or incorporator, as
such, of the Issuer, any Guarantor or any successor Person thereof shall have any liability for any obligation under the Securities, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their
creation. Each Holder of a Security by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities.
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This Security shall not be valid until the Trustee manually signs the
certificate of authentication on this Security.
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17. |
Abbreviations and Defined Terms. |
Customary abbreviations may be used in the name of a Holder
of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act).
Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers as printed on the Securities and reliance
may be placed only on the other identification numbers printed hereon.
The laws of the State of New York shall govern the Indenture and this Security
thereof.
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ASSIGNMENT FORM
I or we assign and transfer this Security to
(Print or type name, address and zip
code of assignee or transferee)
(Insert Social Security or other identifying number of assignee or transferee)
and irrevocably appoint
agent to
transfer this Security on the books of the Issuer. The agent may substitute another to act for him.
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Dated: |
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Signed: |
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(Signed exactly as name appears on the other side of this Security) |
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Signature Guarantee: |
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Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee) |
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7
EXHIBIT B
[FORM OF NOTE DUE 2035]
UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (DTC), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
COMCAST CORPORATION
4.400% Note Due 2035
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No. [ ] |
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CUSIP No.: 20030N BP5 |
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ISIN No. US20030NBP50 |
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$[ ] |
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer, which term includes any
successor corporation), for value received promises to pay to CEDE & CO. or registered assigns, the principal sum of $[ ] ([ ] Million Dollars) on
August 15, 2035.
Interest Payment Dates: February 15 and August 15 (each, an Interest Payment Date),
commencing on August 15, 2015.
Interest Record Dates: February 1 and August 1 (each, an Interest Record
Date).
Reference is made to the further provisions of this Security contained herein, which will for all purposes have the same
effect as if set forth at this place.
8
IN WITNESS WHEREOF, the Issuer has caused this Security to be signed manually or by facsimile by
its duly authorized officer under its corporate seal.
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COMCAST CORPORATION |
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By: |
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Name: |
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William E. Dordelman |
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Title: |
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Senior Vice President and Treasurer |
[Seal of Comcast Corporation]
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Attest: |
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By: |
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Name: |
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Arthur R. Block |
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Title: |
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Executive Vice President, General Counsel and Secretary |
9
This is one of the series designated herein and referred to in the within-mentioned Indenture.
Dated: May 27, 2015
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THE BANK OF NEW YORK MELLON, as Trustee |
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By: |
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Authorized Signatory |
10
(REVERSE OF SECURITY)
COMCAST CORPORATION
4.400% Note
Due 2035
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer),
promises to pay interest on the principal amount of this Security at the rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
May 27, 2015. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing August 15, 2015. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Securities and on overdue installments
of interest (without regard to any applicable grace periods) to the extent lawful.
The Issuer shall pay interest on the Securities (except defaulted interest)
to the persons who are the registered Holders at the close of business on the Interest Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to such Interest Record Date and
prior to such Interest Payment Date. Holders must surrender Securities to The Bank of New York Mellon (the Trustee) to collect principal payments. The Issuer shall pay principal and interest in money of the United States that at
the time of payment is legal tender for payment of public and private debts (U.S. Legal Tender). However, the payments of interest, and any portion of the principal (other than interest payable at maturity or on any redemption or
repayment date or the final payment of principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Issuer and the
Paying Agent or the Issuer), directly to a Holder (by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and
designating the bank account to which such payments shall be so made and in the case of payments of principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating the same principal amount as the unredeemed
principal amount of the Securities surrendered.
Initially, the Trustee will act as Paying Agent. The Issuer may change any
Paying Agent without notice to the Holders.
The Issuer issued the Securities under an Indenture dated as of September 18,
2013 (the Indenture) by and among the Issuer, the guarantors named therein (the Guarantors) and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The
terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the TIA), as in effect on the date of the
Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the Securities are subject to all such
terms, and Holders of Securities are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and this Security are inconsistent, the terms of the Indenture shall govern.
Each Guarantor has irrevocably, fully and unconditionally guaranteed, jointly and
severally, on an unsecured basis, the full and punctual payment (whether at maturity, upon redemption or otherwise) of the principal of and interest on, and all other amounts payable under, the Securities, and the full and punctual payment of all
other amounts payable by the Issuer under the Indenture, subject to certain terms and conditions set forth in the Indenture.
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6. |
Denominations; Transfer; Exchange. |
The Securities are in registered form, without coupons, in
denominations of $2,000 and multiples of $1,000 in excess thereof. A Holder shall register the transfer of or exchange Securities in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any
Securities or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer or exchange any security selected for redemption in whole or in part.
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7. |
Persons Deemed Owners. |
The registered Holder of a Security shall be treated as the owner of it
for all purposes.
If funds for the payment of principal or interest remain unclaimed for two
years, the Trustee and the Paying Agent will repay the funds to the Issuer at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.
2
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9. |
Legal Defeasance and Covenant Defeasance. |
The Issuer and the Guarantors may be discharged from
their respective obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions thereof, and may be discharged from obligations to comply with certain covenants contained in the Securities and
in the Indenture with respect to the Securities, in each case upon satisfaction of certain conditions specified in the Indenture.
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10. |
Amendment; Supplement; Waiver. |
Subject to certain exceptions, the Securities and the
provisions of the Indenture relating to the Securities may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and any existing Default or Event
of Default or compliance with certain provisions may be waived with the consent of the Holders of a majority in aggregate principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of certificated Securities or comply with any requirements of the
Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights of any Holder of a Security.
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11. |
Restrictive Covenants. |
The Indenture contains certain covenants that, among other things,
limit the ability of the Issuer and the Guarantors to incur liens securing indebtedness, or to enter into sale and leaseback transactions, and of the Issuer to merge or sell all or substantially all of its assets. The limitations are subject to a
number of important qualifications and exceptions. The Issuer must annually report to the Trustee on compliance with such limitations.
The Issuer will have the right at its option to redeem any of the Securities in
whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each Holder of the Securities, at the applicable Redemption Price.
Redemption Price means (a) at any time prior to February 15, 2035 (six months prior to the maturity of the
Securities), the greater of (i) 100% of the principal amount of such Securities and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of
redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points and (b) if the Securities are redeemed on or after February 15, 2035
(six months prior to the maturity of the Securities) 100% of the principal amount of such Securities; plus, in each case, accrued and unpaid interest thereon to the date of redemption.
3
Treasury Rate means, with respect to any redemption date, the rate per annum
equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date.
Comparable Treasury Issue means the United States Treasury
security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Securities.
Independent Investment Banker means one of the Reference Treasury Dealers appointed by the Issuer.
Comparable Treasury Price means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (ii) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of
all such quotations.
Reference Treasury Dealer means each of Citigroup Global Markets Inc., Goldman, Sachs &
Co. and Morgan Stanley & Co. LLC, or their affiliates which are primary United States Government Securities dealers, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary
United States government securities dealer in the United States (a Primary Treasury Dealer), the Issuer will substitute therefor another Primary Treasury Dealer.
Reference Treasury Dealer Quotation means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such
Reference Treasury Dealer at 3:30 pm New York time on the third business day preceding such redemption date.
On and after the redemption
date, interest will cease to accrue on the Securities or any portion of the Securities called for redemption (unless the Issuer. defaults in the payment of the redemption price and accrued interest). On or before the redemption date, the Issuer will
deposit with the Trustee money sufficient to pay the redemption price of and (unless the redemption date shall be an Interest Payment Date) accrued interest to the redemption date on the Securities to be redeemed on such date. If less than all of
the Securities are to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate (provided that Securities represented by a Global Security will be selected for
redemption by the Depositary in accordance with its standard procedures therefor).
4
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13. |
Defaults and Remedies. |
If an Event of Default (other than certain bankruptcy Events of Default
with respect to the Issuer or any of the Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of Securities then outstanding may declare all of the Securities to be due and payable
immediately in the manner and with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer or any of the Guarantors occurs and is continuing, all the Securities shall be immediately due and payable
immediately in the manner and with the effect provided in the Indenture without any notice or other action on the part of the Trustee or any Holder. Holders of Securities may not enforce the Indenture, the Securities or the Guarantees except as
provided in the Indenture. The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders
of a majority in aggregate principal amount of the Securities then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of
Default if it determines that withholding notice is in their interest.
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14. |
Trustee Dealings with Issuer. |
The Trustee under the Indenture, in its individual or any other
capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as if it were not the Trustee.
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15. |
No Recourse Against Others. |
No stockholder, director, officer, employee or incorporator, as
such, of the Issuer, any Guarantor or any successor Person thereof shall have any liability for any obligation under the Securities, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their
creation. Each Holder of a Security by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities.
This Security shall not be valid until the Trustee manually signs the
certificate of authentication on this Security.
5
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17. |
Abbreviations and Defined Terms. |
Customary abbreviations may be used in the name of a Holder
of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act).
Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers as printed on the Securities and reliance
may be placed only on the other identification numbers printed hereon.
The laws of the State of New York shall govern the Indenture and this Security
thereof.
6
ASSIGNMENT FORM
I or we assign and transfer this Security to
(Print or type name, address and zip
code of assignee or transferee)
(Insert Social Security or other identifying number of assignee or transferee)
and irrevocably
appoint
agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him.
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Dated: |
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Signed: |
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(Signed exactly as name appears on the other side of this Security) |
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Signature Guarantee: |
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Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee) |
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7
EXHIBIT C
[FORM OF NOTE DUE 2045]
UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (DTC), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
COMCAST CORPORATION
4.600% Note Due 2045
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No. [ ] |
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CUSIP No.: 20030N BQ3 |
|
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ISIN No. US20030NBQ34 |
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$[ ] |
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer, which term includes any
successor corporation), for value received promises to pay to CEDE & CO. or registered assigns, the principal sum of $[ ] ([ ] Million Dollars) on
August 15, 2045.
Interest Payment Dates: February 15 and August 15 (each, an Interest Payment Date),
commencing on August 15, 2015.
Interest Record Dates: February 1 and August 1 (each, an Interest Record
Date).
Reference is made to the further provisions of this Security contained herein, which will for all purposes have the same
effect as if set forth at this place.
IN WITNESS WHEREOF, the Issuer has caused this Security to be signed manually or by facsimile by
its duly authorized officer under its corporate seal.
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COMCAST CORPORATION |
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By: |
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Name: |
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William E. Dordelman |
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Title: |
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Senior Vice President and Treasurer |
[Seal of Comcast Corporation]
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Attest: |
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By: |
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Name: |
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Arthur R. Block |
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Title: |
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Executive Vice President, General Counsel and Secretary |
2
This is one of the series designated herein and referred to in the within-mentioned Indenture.
Dated: May 27, 2015
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THE BANK OF NEW YORK MELLON, as Trustee |
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By: |
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Authorized Signatory |
3
(REVERSE OF SECURITY)
COMCAST CORPORATION
4.600% Note
Due 2045
COMCAST CORPORATION, a Pennsylvania corporation (the Issuer),
promises to pay interest on the principal amount of this Security at the rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
May 27, 2015. The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing August 15, 2015. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Securities and on overdue installments
of interest (without regard to any applicable grace periods) to the extent lawful.
The Issuer shall pay interest on the Securities (except defaulted interest)
to the persons who are the registered Holders at the close of business on the Interest Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to such Interest Record Date and
prior to such Interest Payment Date. Holders must surrender Securities to The Bank of New York Mellon (the Trustee) to collect principal payments. The Issuer shall pay principal and interest in money of the United States that at
the time of payment is legal tender for payment of public and private debts (U.S. Legal Tender). However, the payments of interest, and any portion of the principal (other than interest payable at maturity or on any redemption or
repayment date or the final payment of principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Issuer and the
Paying Agent or the Issuer), directly to a Holder (by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and
designating the bank account to which such payments shall be so made and in the case of payments of principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating the same principal amount as the unredeemed
principal amount of the Securities surrendered.
Initially, the Trustee will act as Paying Agent. The Issuer may change any
Paying Agent without notice to the Holders.
The Issuer issued the Securities under an Indenture dated as of September 18,
2013 (the Indenture) by and among the Issuer, the guarantors named therein (the Guarantors) and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The
terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the TIA), as in effect on the date of the
Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the contrary herein, the Securities are subject to all such
terms, and Holders of Securities are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the Indenture and this Security are inconsistent, the terms of the Indenture shall govern.
Each Guarantor has irrevocably, fully and unconditionally guaranteed, jointly and
severally, on an unsecured basis, the full and punctual payment (whether at maturity, upon redemption or otherwise) of the principal of and interest on, and all other amounts payable under, the Securities, and the full and punctual payment of all
other amounts payable by the Issuer under the Indenture, subject to certain terms and conditions set forth in the Indenture.
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6. |
Denominations; Transfer; Exchange. |
The Securities are in registered form, without coupons, in
denominations of $2,000 and multiples of $1,000 in excess thereof. A Holder shall register the transfer of or exchange Securities in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any
Securities or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer or exchange any security selected for redemption in whole or in part.
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7. |
Persons Deemed Owners. |
The registered Holder of a Security shall be treated as the owner of it
for all purposes.
If funds for the payment of principal or interest remain unclaimed for two
years, the Trustee and the Paying Agent will repay the funds to the Issuer at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.
2
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9. |
Legal Defeasance and Covenant Defeasance. |
The Issuer and the Guarantors may be discharged from
their respective obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions thereof, and may be discharged from obligations to comply with certain covenants contained in the Securities and
in the Indenture with respect to the Securities, in each case upon satisfaction of certain conditions specified in the Indenture.
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10. |
Amendment; Supplement; Waiver. |
Subject to certain exceptions, the Securities and the
provisions of the Indenture relating to the Securities may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the Securities then outstanding, and any existing Default or Event
of Default or compliance with certain provisions may be waived with the consent of the Holders of a majority in aggregate principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of certificated Securities or comply with any requirements of the
Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights of any Holder of a Security.
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11. |
Restrictive Covenants. |
The Indenture contains certain covenants that, among other things,
limit the ability of the Issuer and the Guarantors to incur liens securing indebtedness, or to enter into sale and leaseback transactions, and of the Issuer to merge or sell all or substantially all of its assets. The limitations are subject to a
number of important qualifications and exceptions. The Issuer must annually report to the Trustee on compliance with such limitations.
The Issuer will have the right at its option to redeem any of the Securities in
whole or in part, at any time or from time to time prior to their maturity, on at least 30 days, but not more than 60 days, prior notice mailed to the registered address of each Holder of the Securities, at the applicable Redemption Price.
Redemption Price means (a) at any time prior to February 15, 2045 (six months prior to the maturity of the
Securities), the greater of (i) 100% of the principal amount of such Securities and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest accrued to the date of
redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points and (b) if the Securities are redeemed on or after February 15, 2045
(six months prior to the maturity of the Securities) 100% of the principal amount of such Securities; plus, in each case, accrued and unpaid interest thereon to the date of redemption.
3
Treasury Rate means, with respect to any redemption date, the rate per annum
equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date.
Comparable Treasury Issue means the United States Treasury
security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance
with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Securities.
Independent Investment Banker means one of the Reference Treasury Dealers appointed by the Issuer.
Comparable Treasury Price means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (ii) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of
all such quotations.
Reference Treasury Dealer means each of Citigroup Global Markets Inc., Goldman, Sachs &
Co. and Morgan Stanley & Co. LLC, or their affiliates which are primary United States Government Securities dealers, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary
United States government securities dealer in the United States (a Primary Treasury Dealer), the Issuer will substitute therefor another Primary Treasury Dealer.
Reference Treasury Dealer Quotation means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such
Reference Treasury Dealer at 3:30 pm New York time on the third business day preceding such redemption date.
On and after the redemption
date, interest will cease to accrue on the Securities or any portion of the Securities called for redemption (unless the Issuer. defaults in the payment of the redemption price and accrued interest). On or before the redemption date, the Issuer will
deposit with the Trustee money sufficient to pay the redemption price of and (unless the redemption date shall be an Interest Payment Date) accrued interest to the redemption date on the Securities to be redeemed on such date. If less than all of
the Securities are to be redeemed, the Securities to be redeemed shall be selected by the Trustee by such method as the Trustee shall deem fair and appropriate (provided that Securities represented by a Global Security will be selected for
redemption by the Depositary in accordance with its standard procedures therefor).
4
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13. |
Defaults and Remedies. |
If an Event of Default (other than certain bankruptcy Events of Default
with respect to the Issuer or any of the Guarantors) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of Securities then outstanding may declare all of the Securities to be due and payable
immediately in the manner and with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer or any of the Guarantors occurs and is continuing, all the Securities shall be immediately due and payable
immediately in the manner and with the effect provided in the Indenture without any notice or other action on the part of the Trustee or any Holder. Holders of Securities may not enforce the Indenture, the Securities or the Guarantees except as
provided in the Indenture. The Trustee is not obligated to enforce the Indenture, the Securities or the Guarantees unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein provided, Holders
of a majority in aggregate principal amount of the Securities then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of
Default if it determines that withholding notice is in their interest.
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14. |
Trustee Dealings with Issuer. |
The Trustee under the Indenture, in its individual or any other
capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as if it were not the Trustee.
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15. |
No Recourse Against Others. |
No stockholder, director, officer, employee or incorporator, as
such, of the Issuer, any Guarantor or any successor Person thereof shall have any liability for any obligation under the Securities, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their
creation. Each Holder of a Security by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities.
This Security shall not be valid until the Trustee manually signs the
certificate of authentication on this Security.
5
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17. |
Abbreviations and Defined Terms. |
Customary abbreviations may be used in the name of a Holder
of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act).
Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers as printed on the Securities and reliance
may be placed only on the other identification numbers printed hereon.
The laws of the State of New York shall govern the Indenture and this Security
thereof.
6
ASSIGNMENT FORM
I or we assign and transfer this Security to
(Print or type name, address and zip
code of assignee or transferee)
(Insert Social Security or other identifying number of assignee or transferee)
and irrevocably
appoint
agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him.
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Dated: |
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Signed: |
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(Signed exactly as name appears on the other side of this Security) |
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Signature Guarantee: |
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Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee) |
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7
Exhibit 5.1
[LETTERHEAD OF COMCAST CORPORATION]
May 27, 2015
Comcast
Corporation
One Comcast Center
Philadelphia, Pennsylvania
19103-2838
Ladies and Gentlemen:
I am
Executive Vice President, General Counsel and Secretary of Comcast Corporation, a Pennsylvania corporation (the Company), and have acted for the Company in connection with the issuance by the Company, pursuant to the Underwriting
Agreement dated May 19, 2015 (the Underwriting Agreement) among the Company, the Guarantors (as defined below) and Citigroup Global Markets Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. LLC, as
representatives of the several underwriters named therein (the Underwriters), of $1,500,000,000 aggregate principal amount of its 3.375% Notes due 2025, $800,000,000 aggregate principal amount of its 4.400% Notes due 2035 and
$1,700,000,000 aggregate principal amount of its 4.600% Notes due 2045 (collectively, the Notes). The Notes are to be issued pursuant to the provisions of the Indenture dated as of September 18, 2013 (the
Indenture) by and among the Company, the guarantors named therein (the Guarantors) and The Bank of New York Mellon, as trustee (the Trustee), and guaranteed on an unsecured and unsubordinated
basis by the Guarantors.
I have examined originals or copies, certified or otherwise identified to my satisfaction, of such documents,
corporate records, certificates of public officials and other instruments as I have deemed necessary or advisable for the purpose of rendering this opinion.
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Comcast Corporation |
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2
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May 27, 2015 |
Based upon the foregoing, I am of the opinion that:
1. The Indenture has been duly authorized, executed and delivered by the Company.
2. The Notes have been duly authorized by the Company.
I am a member of the Bar of the Commonwealth of Pennsylvania and the foregoing opinion is limited to the laws of the Commonwealth of
Pennsylvania and the federal laws of the United States of America.
I hereby consent to the filing of this opinion as an exhibit to a
report on Form 8-K filed by the Company on the date hereof and its incorporation by reference into the Companys registration statement on Form S-3 filed on September 18, 2013, as amended on February 19, 2014 (File
No. 333-191239). In addition, I consent to the reference to my name under the caption Legal Matters in the prospectus, which is a part of the registration statement. In giving this consent, I do not admit that I am in the category
of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.
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Very truly yours, |
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/s/ Arthur R. Block |
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Arthur R. Block |
Exhibit 5.2
[LETTERHEAD OF DAVIS POLK & WARDWELL LLP]
May 27, 2015
Comcast Corporation
One Comcast Center
Philadelphia, Pennsylvania 19103-2838
Ladies and Gentlemen:
We have acted as counsel to Comcast
Corporation, a Pennsylvania corporation (the Company) in connection with the issuance by the Company, pursuant to the Underwriting Agreement dated May 19, 2015 (the Underwriting Agreement) among the
Company, the Guarantors (as defined below) and Citigroup Global Markets Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein (the Underwriters),
of $1,500,000,000 aggregate principal amount of its 3.375% Notes due 2025, $800,000,000 aggregate principal amount of its 4.400% Notes due 2035 and $1,700,000,000 aggregate principal amount of its 4.600% Notes due 2045 (collectively, the
Notes). The Notes are to be issued pursuant to the provisions of the Indenture dated as of September 18, 2013 (the Indenture) by and among the Company, the guarantors named therein (the
Guarantors) and The Bank of New York Mellon, as trustee (the Trustee), and guaranteed (the Guarantees) on an unsecured and unsubordinated basis by the Guarantors.
We, as your counsel, have examined originals or copies of such documents, corporate records, certificates of public officials and other instruments as we have
deemed necessary or advisable for the purpose of rendering this opinion.
In rendering the opinion expressed herein, we have, without independent inquiry
or investigation, assumed that (i) all documents submitted to us as originals are authentic and complete, (ii) all documents submitted to us as copies conform to authentic, complete originals, (iii) all signatures on all documents
that we reviewed are genuine, (iv) all natural persons executing documents had and have the legal capacity to do so, (v) all statements in certificates of public officials and officers of the Company and the Guarantors that we reviewed
were and are accurate and (vi) all representations made by the Company and the Guarantors as to matters of fact in the documents that we reviewed were and are accurate.
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Comcast Corporation |
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2
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May 27, 2015 |
Based on the foregoing, and subject to the additional assumptions and qualifications set forth below, we
advise you that, in our opinion:
(1) Assuming the Indenture has been duly authorized, executed and delivered by the Trustee and the
Company, the Indenture is a valid and binding agreement of the Company and the Guarantors, enforceable against the Company and the Guarantors in accordance
with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors rights generally, concepts of reasonableness and equitable principles of general applicability, provided that we express no opinion as to
(i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above, (ii) any provision of the Indenture that purports to avoid the effect of fraudulent conveyance,
fraudulent transfer or similar provision of applicable law by limiting the amount of any Guarantors obligation or (iii) the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of
stated principal amount upon acceleration of the Notes to the extent determined to constitute unearned interest.
(2) The Guarantees have been duly
authorized, and, assuming the Notes have been duly authorized by the Company, when the Notes have been duly executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters in accordance
with the terms of the Underwriting Agreement, the Notes will be valid and binding obligations of the Company and the Guarantees will be valid and binding obligations of the Guarantors, in each case enforceable against the Guarantors in accordance
with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors rights generally, concepts of reasonableness and equitable principles of general applicability, and will be entitled to the benefits of the
Indenture, provided that we express no opinion as to (i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (ii) the validity, legally binding effect or
enforceability of any provision that permits holders to collect any portion of stated principal amount upon acceleration of the Notes to the extent determined to constitute unearned interest.
In connection with the opinions expressed above, we have assumed that the Company is validly existing as a corporation in good standing under the laws of the
State of Pennsylvania. In addition, we have assumed that the Indenture and the Notes (collectively, the Documents) are valid, binding and enforceable agreements of each party thereto (other than as expressly covered above in
respect of the Company and the Guarantors). We have also assumed that the execution, delivery and performance by each party to each Document to which it is a party (a) are within its corporate powers, (b) do not contravene, or constitute a
default under, the certificate of incorporation or bylaws, limited liability company operating agreement or other constitutive documents of such party, (c) require no action by or in respect of, or filing with, any governmental body, agency or
official and (d) do not contravene, or constitute a default under, any provision of applicable law or regulation or any judgment, injunction, order or decree or any agreement or other instrument binding upon such party, provided that we make no
such assumption to the extent that we have specifically opined as to such matters with respect to the Company and each Guarantor.
We are members of the
Bar of the States of New York and California and the foregoing opinion is limited to the laws of the State of New York and the General Corporation and Limited Liability Company laws of the State of Delaware, except that we express no opinion as to
any law, rule or regulation that is applicable to the Company or the Guarantors, the Documents or such transactions solely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the Documents or any of
its affiliates due to the specific assets or business of such party or such affiliate.
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Comcast Corporation |
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3
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May 27, 2015 |
We hereby consent to the filing of this opinion as an exhibit to a report on Form 8-K filed by the Company on
the date hereof and its incorporation by reference into the Companys registration statement on Form S-3 filed on September 18, 2013, as amended on February 19, 2014 (File No. 333-191239). In addition, we consent to the reference to our name
under the caption Legal Matters in the prospectus, which is a part of the registration statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities
Act of 1933, as amended.
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Very truly yours, |
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/s/ Davis Polk & Wardwell LLP |
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