Discovery Communications Inc Announces Pricing of Senior Notes


Tuesday, 12 Mar 2013 06:48pm EDT 

Discovery Communications Inc announced that Discovery Communications, LLC (DCL) has priced an offering of $350 million aggregate principal amount of its 3.250% senior notes due 2023 (the 2023 Notes) and $850 million aggregate principal amount of its 4.875% senior notes due 2043 (the 2043 Notes and together with the 2023 Notes, the Notes). The 2023 Notes were priced at 99.838% of their principal amount to yield 3.269% to maturity. The 2043 Notes were priced at 99.888% of their principal amount to yield 4.882% to maturity. The sale of the Notes is expected to close on March 19, 2013. The Notes will be unsecured and will rank equally with all of DCL's other unsecured senior indebtedness. The Notes will be fully and unconditionally guaranteed on an unsecured and unsubordinated basis by the Company. DCL expects the net proceeds from the offering of the Notes to be approximately $1.19 billion after deducting the underwriting discount and estimated expenses related to the offering. DCL intends to use the net proceeds for general corporate purposes, including the acquisition of companies or businesses, repayment and refinancing of debt, working capital, capital expenditures and the repurchase by the Company of its capital stock. J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and RBS Securities Inc. acted as joint book-running managers for the offering. 

Company Quote

35.43
0.02 +0.06%
19 Dec 2014