Satellite broadcaster DirecTV has priced US$750m of new senior unsecured five-year notes.
The debt, which is being issued via its subsidiaries DirecTV Holding and DirecTV Financing and is rated Baa2 by Moody’s, carries a coupon of 1.75% and priced at…
Satellite broadcaster DirecTV has priced US$750m of new senior unsecured five-year notes.
The debt, which is being issued via its subsidiaries DirecTV Holding and DirecTV Financing and is rated Baa2 by Moody’s, carries a coupon of 1.75% and priced at 99.127 to yield 1.934%, highlighting the continued investor appetite for corporate bond issuances in the US.
Net proceeds from the debt, will be used for general corporate purposes, including its ongoing share repurchase plan.
Goldman Sachs, JP Morgan, Morgan Stanley and RBC Capital Markets are joint book-running managers.
A perennial visitor to the US bond markets, DirecTV has approximately US$17.9bn of total debt, substantially of which is in the form of predominantly dollar denominated notes. Of these, the earliest to mature is the US$999m of 4.75% senior notes due 2014 followed by its US$1.2bn of 3.55% senior notes due 2015.
The company also has US$2.5bn of revolving credit facilities that are currently undrawn.
