DirecTV units call $490 million of 8 3/8% senior notes

By Caroline Salls

Pittsburgh, April 13 - The DirectTV Group Inc. said its subsidiaries DirecTV Holdings LLC and DirecTV Financing Co., Inc. will redeem $490 million of their outstanding $1.4 billion 8 3/8% senior notes due 2013 on May 19 at a price of 108.375% of the principal amount plus accrued interest.

The companies are exercising their option to redeem a portion of the notes using the proceeds of an equity investment that DirecTV Group made in DirecTV Holdings.

The DirecTV Group is an El Segundo, Calif.-based provider of digital multi-channel television entertainment and broadband satellite networks and services.

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