DIRECTV Holdings LLC, an indirect subsidiary of DIRECTV (DTV: Quote), announced the pricing of an issuance of $1.25 billion of 2.400% Senior Notes due 2017, $1.5 billion of 3.800% Senior Notes due 2022 and $1.25 billion of 5.150% Senior Notes due 2042. The closing of the offering is expected to occur on March 8, 2012, subject to satisfaction of customary closing conditions.
DIRECTV Holdings said it will receive net proceeds of around $3.97 billion from this offering and added that it plans to use the net proceeds from the offering for general corporate purposes, which may include a distribution to its parent, DIRECTV, for its share repurchase plan and other corporate purposes.
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by RTT Staff Writer
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