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CBS ANNOUNCES 7-YEAR AND 30-YEAR DEBT OFFERINGS

 CBS ANNOUNCES 7-YEAR AND 30-YEAR DEBT OFFERINGS
 NEW YORK, May 21 /PRNewswire/ -- CBS (NYSE: CBS) announced today


that it has offered, through Salomon Brothers Inc., $125 million principal amount of 7-3/4 percent notes due June 1999 and $125 million principal amount of 8-7/8 percent debentures due June 2022.
 The non-callable 7-3/4 percent notes will be priced at 99.734 percent of par to yield 7.80 percent. The 8-7/8 percent debentures, which are non-callable for 10 years, will be priced at 99.404 percent of part to yield 8.932 percent.
 Both the notes and debentures will be issued under the existing shelf registration statement of CBS, pursuant to Rule 415 of the Securities and Exchange Commission, and will settle on June 1, 1992. CBS's outstanding senior debt is rated "A-" by Standard & Poor's and "A" by Duff & Phelps.
 The net proceeds from the sale of these debt securities, totalling nearly $250 million, will be used for the retirement of existing CBS debt obligations. The long-term debt of CBS includes presently $263 million principal amount of 10-7/8 percent senior notes, which are redeemable at the option of the company at any time after Aug. 1, 1992 at par.
 -0- 5/21/92
 /CONTACT: Keith Fawcett of CBS, 212-975-6824/
 (CBS) CO: CBS Inc. ST: New York IN: ENT SU: OFR


KD-SB -- NY096 -- 3032 05/21/92 16:16 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 21, 1992
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