They say timing is everything.
That was especially true for Comcast Corp., which managed to save nearly $28 million in annual interest payments by pricing its $27 billion bond sale on Tuesday instead of Wednesday. By beating the backup in rates, the U.S. cable giant priced the second-largest bond offering of the year with minimal concessions to help fund its $39 billion acquisition of Sky Plc.
“Whether it was lucky or not, they knew they needed the money and the window was open,” said Matt Brill, a senior portfolio manager at Invesco Ltd. “There's no doubt that doing this sale on Tuesday versus Wednesday or even Thursday materially saved the company money.”
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