By Scott Moritz
Comcast (CMCSA) has raised $2 billion through a bond sale as the company explores its wireless broadband options, among other things.
The Philadelphia cable giant was able to increase its planned debt offering of $1.5 billion to $2 billion on strong demand for the note, according to Bloomberg News. The news comes a day after the company posted solid first quarter earnings and said it was still planning to move ahead in wireless data.
On the earnings conference call with analysts, Comcast executives said they would take action to to preserve its credit rating.
“We are going to be very disciplined in our capital structures, and do things that make a lot of sense,” Comcast executives said Thursday.
As of March 31, Comcast’s total debt was $37.4 billion, according to a regulatory filing.
Some analysts says the financing move is a good sign that Comcast is getting closer to reaching some sort of agreement on a proposed WiMax joint venture between Sprint (S) and Clearwire (CLWR). Other players that have been involved in those discussions include Time Warner Cable (TWC), Intel (INTC) and Google (GOOG).
Comcast has a big role in the fate of a national WiMax network. If the joint venture fails to find enough funding or participants, the so-called 4G wireless technology faces falling behind the long term evolution or LTE technology that AT&T (T) and Verizon Wireless (VZ) have already committed to.
