DIRECTV Holdings LLC Announces Completion of Tender Offer for 8-3/8% Senior Notes due 2013 & Notice of Optional Redemption fo...
September 23 2009 - 9:41AM
Business Wire
DIRECTV Holdings LLC (the “Company”), a wholly-owned subsidiary
of The DIRECTV Group, Inc. (NASDAQ:DTV), announced today the
expiration and final results of the previously announced fixed
price cash tender offer (the “Tender Offer”) to purchase any and
all of its 8-3/8% Senior Notes due 2013 (CUSIP No. 25459HAB1) (the
“Senior Notes”).
The Tender Offer expired at 11:59 P.M, New York City time, on
September 21, 2009.
The Company has accepted for purchase all of the Senior Notes
validly tendered (and not validly withdrawn) in the Tender Offer.
The aggregate principal amount of the Senior Notes validly tendered
(and not validly withdrawn) pursuant to the Tender Offer was
$583,112,000, representing approximately 64.08 % of outstanding
Senior Notes. The total consideration payable per $1,000 principal
amount of the Senior Notes is $1,031.25 (plus accrued and unpaid
interest as described in the Company’s Offer to Purchase, dated
September 14, 2009 (the "Offer to Purchase")).
The Company funded payment of all Senior Notes purchased
pursuant to the Tender Offer from available cash and cash from a
private placement of debt securities that closed on September 22,
2009.
The Company announced that it gave Notice of Optional Redemption
today for the remaining $326,888,000 aggregate principal amount
outstanding of Senior Notes at a price of 102.792% of the principal
amount together with accrued interest to October 23, 2009 in
accordance with the terms of the Senior Notes and the Indenture
dated February 28, 2003 for the Senior Notes.
This press release is neither an offer to purchase nor a
solicitation to buy any Senior Notes. The Tender Offer was made
solely pursuant to the Offer to Purchase and related documents.
Additional terms and conditions of the optional redemption are set
forth in the Notice of Optional Redemption dated September 23,
2009. The Company is making the redemption only by, and pursuant to
the terms of the Notice of Optional Redemption, dated September 23,
2009. The complete terms and conditions of the optional redemption
are set forth in the Notice of Optional Redemption that is being
sent to the holders of the outstanding Senior Notes. Copies may be
obtained from the Trustee and Paying Agent of the Notes, The Bank
of New York Mellon Trust Company, N.A., by sending a request in
writing to The Bank of New York Mellon Trust Company, N.A., 700
South Flower Street, Suite 500, Los Angeles, CA 90017, Attn:
Corporate Unit.
Cautionary Statement Concerning Forward-looking
statements
NOTE: This release may include or incorporate by reference
certain statements that we believe are, or may be considered to be,
“forward-looking statements” within the meaning of various
provisions of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. These forward-looking statements generally
can be identified by use of statements that include phrases such as
“believe,” “expect,” “estimate,” “anticipate,” “intend,” “plan,”
“foresee,” “project” or other similar words or phrases. Similarly,
statements that describe our objectives, plans or goals also are
forward-looking statements. All of these forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially from historical results or from
those expressed or implied by the relevant forward-looking
statement. Such risks and uncertainties include, but are not
limited to: economic conditions; product demand and market
acceptance; ability to simplify aspects of our business model,
improve customer service, create new and desirable programming
content and interactive features, and achieve anticipated economies
of scale; government action; competition; the outcome of legal
proceedings; ability to achieve cost reductions; ability of third
parties to timely perform material contracts; ability to renew
programming contracts under favorable terms; technological risk;
limitations on access to distribution channels; the success and
timeliness of satellite launches; in-orbit performance of
satellites, including technical anomalies; loss of uninsured
satellites; theft of satellite programming signals; and our ability
to access capital to maintain our financial flexibility. We urge
you to consider these factors carefully in evaluating the
forward-looking statements.
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.
DTE Energy (NYSE:DTV)
Historical Stock Chart
From Jun 2024 to Jul 2024
DTE Energy (NYSE:DTV)
Historical Stock Chart
From Jul 2023 to Jul 2024