(DTV) DIRECTV Group Raises Debt Financing

September 24th, 2009

On Sep 22, 2009, DIRECTV Holdings and DIRECTV Financing Company, the subsidiaries of the DIRECTV Group, Inc. (DTV) announced the completion of the $2 billion debt financing, previously announced on Sep 14, 2009.

The debt financing consists of 4.75% senior notes of $1 billion due 2014 (issue price of $99.729) and another 5.875% senior notes of $1 billion due 2019 (issue price of $99.259).

DIRECTV intends to utilize the net proceeds to purchase its outstanding 8.375% senior notes of $910 million due 2013, and also for general business purposes.

DIRECTV Group is the world’s leading provider of satellite delivered digital television, video, and broadband. The company provides advanced communication services and develops a broad range of entertainment, information, and communication services for home and business use Incorporatedluding video, data, voice, multimedia, and Internet services.

DIRECTV provides digital television service to more than 18.3 million customers in the United States and over 5.9 million customers in Latin America .

Yesterday the stock closed at $27.28, up 1.8% from the previous day’s session.

Zacks Investment Research
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