TelevisaUnivision Announces Pricing Of $500M Notes Offering

TelevisaUnivision says its wholly-owned subsidiary, Univision Communications, has priced its offering of $500 million aggregate principal amount of 8% senior secured notes due 2028. The offering of the notes is expected to close on or about Aug. 7, subject to customary closing conditions.

The company said it intends to use the net proceeds from the offering, together with cash on hand, to prepay approximately $261.3 million —representing the entire outstanding principal amount — of its term loans due 2024 and the remaining proceeds to redeem approximately $238.7 million of the $1,479.4 million outstanding aggregate principal amount of its 5.125% senior secured notes due 2025.

The prepayment and redemption are expected to occur substantially concurrently with the closing of this offering.

The notes are general senior secured obligations of the company and will be guaranteed by all of TelevisaUnivision’s wholly-owned domestic subsidiaries that guarantee the obligations under the company’s senior secured credit facilities and existing senior secured notes.