CBS Corporation (NYSE: CBS.A and CBS) today announced the pricing of a debt offering of $700 million of 2.90% senior notes due 2027. The sale of the senior notes is expected to close on July 11, 2016, subject to customary closing conditions.

After deducting fees and expenses related to this offering, CBS intends to use the net proceeds for general corporate purposes including, among other things, the repurchase of shares of CBS's outstanding common stock pursuant to the Company's authorized share repurchase program and the repayment of short-term borrowings, including commercial paper.

About CBS Corporation 

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. The Company's operations span virtually every field of media and entertainment, including broadcast television, cable networks, content production and distribution, film, publishing, local TV and radio stations, and interactive and socially responsible media.