DirecTV to Sell $4 Billion in DebtTuesday, March 6, 2012
DirecTV Inc. has priced a senior debt offering from which it expects net proceeds of $3.97 billion, the company announced Tuesday.
DirecTV Holdings LLC, an indirect subsidiary of the El Segundo satellite TV service provider, said it will issue notes of $1.25 billion due in 2017, of $1.5 billion due in 2022 and of $1.25 billion due in 2042.
The parent company expects to use some of the proceeds from the senior notes sale to buy back its own stock and for general corporate purposes. The debt sale is expected to close on Thursday.
Shares closed down 57 cents, or 1 percent, to $45.91 on the Nasdaq.