DIRECTV Holdings LLC Prices Issue of $2 Billion of New Debt
September 14 2009 - 8:30PM
Business Wire
DIRECTV Holdings LLC (the “Company”), a wholly owned subsidiary
of THE DIRECTV Group, Inc. (NASDAQ:DTV), announced today the
pricing of an issuance of $1 billion of 4 3/4% Senior Notes due
2014 and $1 billion of 5 7/8% Senior Notes due 2019 (together, the
"Notes"). The closing of the offering is expected to occur on
September 22, 2009, subject to satisfaction of customary closing
conditions. The Company will receive gross proceeds of
$1,989,880,000 from this offering and expects to use the net
proceeds for general corporate purposes and for the repurchase of
its existing 8 3/8% Senior Notes due 2013 pursuant to a tender
offer announced by the Company on September 14, 2009.
The offering will be made in accordance with Rule 144A under the
Securities Act of 1933, as amended, to purchasers in the United
States and in accordance with Regulation S under the Securities Act
to purchasers outside of the United States. The offering of the
Notes has not been registered under the Securities Act, and the
Notes may not be offered or sold absent registration or an
applicable exemption from registration. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy the Notes.
About DIRECTV Group
The DIRECTV Group, Inc. (NASDAQ:DTV) is the world’s leading
provider of digital television entertainment services. Through its
subsidiaries and affiliated companies in the United States, Brazil,
Mexico and other countries in Latin America, the DIRECTV Group
provides digital television service to more than 18.3 million
customers in the United States and over 6 million customers in
Latin America.
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