Banks Launch $750 Million Versant Loan Ahead of Comcast Spinoff
Versant signage on the floor at the New York Stock Exchange.
Photographer: Michael Nagle/BloombergBanks led by Morgan Stanley launched a $750 million leveraged loan as part of Comcast Corp.’s pending spinoff of cable-television channels.
Versant Media Group Inc. would use the loan’s proceeds to make a distribution to Comcast and fund general corporate purposes, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. A lender call is scheduled for Friday, and commitments are due Oct. 24.