They say timing is everything.

That was especially true for Comcast Corp., which managed tosave nearly $28 million in annual interest payments by pricingits $27 billion bond sale on Tuesday instead ofWednesday. By beating the backup in rates, the U.S. cable giantpriced the second-largest bond offering of the year with minimalconcessions to help fund its $39 billion acquisition of SkyPlc.

“Whether it was lucky or not, they knew they needed the moneyand the window was open,” said Matt Brill, a senior portfoliomanager at Invesco Ltd. “There's no doubt that doing this sale onTuesday versus Wednesday or even Thursday materially saved thecompany money.”

See also:

• Taking Advantage of the Low Interest RateEnvironment
• Comcast Sells $27 Billion of Bonds

U.S. Treasuries have been selling off for the last two days asglobal investors are expecting stronger economic growth and afaster pace of Federal Reserve rate hikes. That's pushed the10-year yield above 3.2 percent for the first time since 2011.

The backup in rates translates to $27.8 million in annualinterest payments on Comcast's fixed-rate bonds, assuming that thespread would not have changed if the deal priced Wednesday insteadof Tuesday, according to data compiled by Bloomberg.

Spokesmen for Philadelphia-based Comcast and Bank of AmericaCorp., one of the lead managers on the bond sale, declined tocomment. Representatives for Wells Fargo & Co., which was alsoa lead manager on the sale, did not immediately comment.

From: Bloomberg

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