DirecTV $1.4 billion 10-year notes talked at 8¼%-8½%, pricing Tuesday

By Paul A. Harris

St. Louis, Feb. 21 - Price talk of 8¼%-8½% emerged Friday on DirecTV Holding LLC's planned $1.4 billion of 10-year senior notes (B1/B), according to a syndicate source.

The deal is expected to price on Tuesday, the source added.

Deutsche Bank Securities Inc., Banc of America Securities, Credit Suisse First Boston, Goldman Sachs & Co. and Salomon Smith Barney are joint bookrunners.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to repay debt under the existing credit facilities, to fund Hughes Electronics Corp.'s business plan through projected cash flow breakeven and for Hughes' other corporate purposes.

The issuer is and El Segundo, Calif.-based digital satellite television service provider.

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