DirecTV to redeem all 4.75% notes due 2014 via new notes offering

By Tali Rackner

Norfolk, Va., March 20 - DirecTV Holdings LLC and DirecTV Financing Co., Inc. plan to redeem any and all outstanding aggregate principal amount of their 4.75% senior notes due 2014 with the proceeds from a new notes offering, according to a press release.

The notes will be redeemed on April 24. The redemption price will be based on the remaining scheduled payments of principal and interest using a discount rate equal to the Treasury rate in effect as of April 21 plus 40 basis points, plus accrued interest to the redemption date.

As of Thursday, there was $1 billion outstanding under the notes.

Bank of New York Mellon Trust Co., NA is the trustee.

DirecTV is a digital entertainment company, based in El Segundo, Calif.

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