DirecTV credit agreements canceled as part of acquisition by AT&T

By Wendy Van Sickle

Columbus, Ohio, July 24 – DirecTV Holdings LLC’s two credit agreements were terminated Friday in connection with its merger with Steam Merger Sub LLC, a subsidiary of AT&T Inc., according to an 8-K filed with the Securities and Exchange Commission.

The terminated credit agreements include a 3.5-year agreement with a revolving termination date of Feb. 7, 2016 and a five-year agreement with a revolving termination date of Sept. 28, 2017.

Both agreements were entered into on Sept. 28, 2012 with Citibank, NA as administrative agent; Citigroup Global Markets Inc., Barclays Bank plc, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., RBS Securities Inc. and UBS AG, Stamford Branch as joint lead arrangers and joint bookrunners; Barclays Bank plc as syndication agent; and Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Inc., Royal Bank of Scotland plc and UBS AG, Stamford Branch as co-documentation agents.

DirecTV is a digital entertainment company is based in El Segundo, Calif. The merged companies will operate as DirecTV Group Holdings, LLC.

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