TelevisaUnivision Announces Pricing of $1.0 Billion Debt
23 Mayo 2024 - 4:05PM
Business Wire
TelevisaUnivision, Inc. today announced that its wholly-owned
subsidiary, Univision Communications Inc. (the “Company”), has
priced its refinancing of $1.0 billion of debt. This includes its
offering of $500.0 million aggregate principal amount of 8.50%
senior secured notes due 2031 (the “Notes”). As part of this
transaction, the Company has also entered into an amendment to its
2007 Credit Agreement, pursuant to which the Company will borrow a
new tranche of $500 million aggregate principal amount of term
loans due 2029 (the “2029 Term Loans”) with an interest rate of
adjusted Term SOFR plus a margin of 3.50%, at an issue price of
99.0%. The 2029 Term Loans are expected to close on or about June
6, 2024, and the offering of the Notes is expected to close on or
about June 7, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering of
the Notes and the 2029 Term Loans, together with cash on hand, to
prepay $1.0 billion of the outstanding aggregate principal amount
of its 2026 Term Loans, as well as to pay any costs, fees and
expenses in connection therewith. The prepayment is expected to
occur substantially concurrent with the closings.
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.
The Notes and the related subsidiary guarantees are being
offered to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and to certain non-U.S.
persons outside the United States in compliance with Regulation S
under the Securities Act. The Notes and the related subsidiary
guarantees have not been registered under the Securities Act and
may not be offered or sold in the United States without
registration or an applicable exemption from the registration
requirements of the Securities Act.
This release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About TelevisaUnivision
TelevisaUnivision, Inc. is a global media company that
entertains, informs and empowers consumers with Spanish language
news, sports and entertainment content across broadcast, cable,
streaming, digital and audio platforms.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained within this press release
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. In some cases you
can identify forward-looking statements by terms such as
“anticipate,” “plan,” “may,” “intend,” “will,” “expect,” “believe,”
“optimistic” or the negative of these terms, and similar
expressions intended to identify forward-looking statements. The
forward-looking statements contained in this press release include,
but are not limited to, statements related to the 2029 Term Loans,
the offering of the Notes and the use of proceeds therefrom. You
are cautioned not to place undue reliance on our forward-looking
statements. These forward-looking statements involve many risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements, including,
without limitation, general market conditions.
These forward-looking statements reflect our current views with
respect to future events and are based on assumptions and are
subject to risks and uncertainties. Also, these forward-looking
statements present our estimates and assumptions only as of the
date of this press release. We undertake no obligation to modify or
revise any forward-looking statements to reflect events or
circumstances occurring after the date that the forward-looking
statement was made. Actual results may differ materially due to
these risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523555701/en/
Betsy Frank, Senior Vice President of Investor Relations
bmillerfrank@televisaunivision.com
Alyssa Bernstein, Senior Vice President of Corporate
Communications abernstein@televisaunivision.com