September 30, 2016 Last Updated 8:39 am

Viacom announces $1.3 billion debt offering

Move comes as there are calls for Viacom to merge with CBS, bringing back together the companies that were unified until the 2005 spin off

NEW YORK, NY – September 30, 2016 — Viacom Inc. today announced that it has agreed to sell $400 million in aggregate principal amount of 2.250% senior notes due 2022 at a price equal to 99.692% of the principal amount thereof (the “2022 Senior Notes”) and $900 million in aggregate principal amount of 3.450% senior notes due 2026 at a price equal to 99.481% of the principal amount thereof (the “2026 Senior Notes” and, together with the 2022 Senior Notes, the “Senior Notes”). The sale of the Senior Notes is expected to close on October 4, 2016, subject to customary closing conditions.

Viacom intends to use the net proceeds from the offering primarily for the repayment of outstanding indebtedness, which includes the repayment of $400 million aggregate principal amount of its 2.500% senior notes due December 2016, the repayment of $500 million aggregate principal amount of its 3.500% senior notes due April 2017 and borrowings under its commercial paper program, and, to the extent that any proceeds remain, for general corporate purposes.

The joint book-running managers for the offering are Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC.

Viacom’s senior unsecured debt is currently rated BBB- (negative) by S&P Global Ratings, BBB (negative) by Fitch Ratings and Baa3 (stable) by Moody’s Investors Service.*

The terms and conditions of the Senior Notes are set forth in a prospectus, which can be obtained by contacting Viacom Investor Relations at 1-800-516-4399 or by written request to Viacom Inc., 1515 Broadway, 52nd Floor, New York, New York 10036, Attn: Investor Relations.

*A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

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