CBS Corp. (NYSE: CBS) reported Tuesday that it is offering to buy back up to $500 million in outstanding bonds, according to Associated Press.
The offer, which expires April 26, covers 6.625 percent notes due in 2011, 8.625 notes due in 2012 and 5.625 percent notes due in 2012.
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CBS said its first priority will be the notes due in 2011, followed by the 8.625 percent notes due in 2012 and then the 5.625 percent notes also due in 2012.
CBS shares rose a penny to $14.15 at Tuesday’s close.
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