NEW YORK–(BUSINESS WIRE)–TelevisaUnivision, Inc. introduced at this time that its subsidiary Univision Communications Inc. (the “Company”) has a debt compensation quantity of $1 billion. This consists of the providing of $500.0 million principal quantity of 8.50% senior secured debt securities due 2031 (the “Debt Securities”). As a part of this transaction, the Company additionally entered into an modification to its 2007 Credit Agreement, pursuant to which it would borrow an extra $500 million principal quantity of fastened time period loans due in 2029. (the “2029 Term Loan”), with an adjusted SOFR Term rate of interest and margin of three.50%, with a problem value of 99.0%. The 2029 Term Loan is anticipated to shut on or about June 6, 2024 and the providing of the Debt Securities is anticipated to shut on or about June 7, 2024, topic to closing circumstances. frequent ones.
The Company intends to make use of the online proceeds from the providing of the Debt Securities and the 2029 Term Loans, in addition to the proceeds, to prepay $1 billion of the mixture principal quantity due on its 2026 Term Loans, and to pay bills. , commissions and associated bills. Early cancellations are anticipated to happen extra steadily across the identical time as closings.
The Credit Notes can be normal secured obligations of the Company and can be assured by the Company’s wholly-owned home subsidiaries, which assure the obligations beneath the Company’s secured credit score services and present secured debt securities.
The Debt Securities and associated collateral are provided to individuals fairly thought of to be certified institutional patrons pursuant to Rule 144A beneath the Securities Act of 1933, as amended (the “Securities Act”) and to sure non-US individuals, exterior of the United States. , pursuant to Regulation S beneath the Securities Act. The Debt Securities and associated securities haven’t been registered beneath the Securities Act and might not be provided or bought within the United States with out registration or an relevant exemption from the registration necessities of that act.
This communication won’t represent a suggestion to promote or a solicitation of a suggestion to purchase. The Debt Securities won’t be bought in any state or jurisdiction the place such supply, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any jurisdiction.
About TelevisaUnivision
TelevisaUnivision, Inc. is a worldwide media firm that gives leisure, data and information, sports activities and leisure content material in Spanish to shoppers throughout broadcast, cable, broadcast, digital and audio platforms.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained on this press launch embody “forward-looking statements” throughout the that means of the Private Securities Litigation Reform Act of 1995. In some instances, you possibly can establish forward-looking statements by phrases comparable to “count on,” “plan,” “could,” “intend,” “count on”, “imagine”, “hope” or the detrimental of those phrases, and related expressions meant to establish forward-looking statements. Forward-looking statements contained on this press launch embody, amongst others, these concerning the 2029 Term Loan, the providing of Securities and using proceeds therefrom. You mustn’t place undue reliance on our forward-looking statements. These forward-looking statements contain many dangers and uncertainties as a result of precise outcomes could differ materially from these expressed or implied by such statements, together with, however not restricted to, regular market circumstances.
These forward-looking statements mirror our present views concerning future occasions, are primarily based on assumptions and are topic to dangers and uncertainties. In addition, such statements current our estimates and assumptions solely as of the date of this press launch. We undertake no obligation to alter or replace any forward-looking assertion to mirror occasions or circumstances occurring after the date on which the assertion is made. Actual outcomes could differ materially resulting from these dangers and uncertainties.
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Contacts
Betsy Frank, Senior Vice President of Investor Relations
Alyssa Bernstein, Senior Vice President of Corporate Communications
The put up TelevisaUnivision proclaims the value of its debt of 1,000 million {dollars} was first revealed in EL NACIONAL.