Simpson Thacher is representing J.P. Morgan Securities, Inc., JPMorgan Chase Bank, N.A., Goldman Sachs Credit Partners L.P., Morgan Stanley Senior Funding, Inc., Banc of America Securities LLC, Bank of America, N.A. and Citigroup Global Markets Inc. as arrangers and underwriters of $9.875 billion of committed financing in connection with the formation of a joint venture by Comcast Corporation and General Electric Company consisting of the NBC Universal, Inc. businesses and Comcast's cable networks, regional sports networks and certain digital properties and investments. The committed financing includes a $6.1 billion bridge loan facility, a $3.0 billion 3-year term loan facility and a $750.0 million working capital revolving facility.
The combination of assets facilitated by the provision of the credit facilities will result in a leading media and entertainment company that will provide entertainment, news and sports content, movies and film libraries to consumers worldwide. The joint venture will provide consumers access to content across all platforms including film, television, and online and will be anchored by a portfolio of major cable networks and regional sports networks including USA, Bravo, Syfy, E!, Versus, CNBC and MSNBC.
The Simpson Thacher team includes Frank Huck, Justin Lungstrum, Doug Bacon, and Brian Korchin.