TelevisaUnivision Announces Pricing Of $700M Notes Offering

TelevisaUnivision said Monday that its wholly-owned subsidiary, Univision Communications, has priced its offering of $700 million aggregate principal amount of 8% senior secured notes due 2028 at an issue price of 100.5%.

The notes are being offered as a further issuance of, and will be consolidated with and form a single series with, the $500 million aggregate principal amount of 8% senior secured notes due 2028 that were originally issued on Aug. 7. The offering of the notes is expected to close on or about Dec. 18, subject to customary closing conditions.

The company said it intends to use the net proceeds from the offering, together with cash on hand, to redeem approximately $700 million of the $1,040.7 million outstanding aggregate principal amount of its 5.125% senior secured notes due 2025, as well as to pay any costs, fees and expenses in connection therewith.

The redemption is expected to occur substantially concurrently with the closing of this offering.

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