Paramount Global Announces Redemption of Approximately $1.0 Billion of Notes

NEW YORK, April 1, 2022 /PRNewswire/ — Paramount Global (the “Company”) (NASDAQ: PARA, PARAA) today announced that it would redeem (i) all of its outstanding 3.50% senior notes due January 15, 2025 (the “3.50% notes”) and (ii) a portion of its outstanding 4.750% senior notes due May 15, 2025 (the “4.750% notes”).  The redemption date for the 3.50% notes is April 18, 2022.  The redemption date for the 4.750% notes is April 11, 2022.

The redemption price for the 3.50% notes and the 4.750% notes is equal to the sum of 100% of the principal amount of such series of notes to be redeemed, the make-whole amount calculated in accordance with the respective terms of such series of notes and the related indenture under which such series of notes was issued, and the accrued and unpaid interest on such series of notes up to, but excluding, the respective redemption date on the principal amount of such series of notes to be redeemed.  The aggregate principal amount of each such series of notes outstanding and the aggregate principal amount of each such series of notes to be redeemed is as set forth below:

Holders owning notes through a broker, bank, or other nominee should contact that party for information.  For more information, holders of the 3.50% notes and the 4.750% notes may call the paying agent for the redemption of such series of notes, Deutsche Bank Trust Company Americas at (800) 735-7777.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic studios, networks and streaming services, Paramount’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. Paramount delivers the largest share of the U.S. television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution and advertising solutions.

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PARA-IR

SOURCE Paramount Global