DirecTV gets tenders for $583.11 million 8 3/8% notes, calls remainder

By Angela McDaniels

Tacoma, Wash., Sept. 23 - DirecTV Holdings LLC said holders tendered $583,112,000 principal amount, or 64.08%, of its $910 million of 8 3/8% senior notes due 2013 into a tender offer that expired at 11:59 p.m. ET on Sept. 21.

The $326,888,000 principal amount of notes not tendered into the offer will be redeemed at 102.792% of par plus accrued interest on Oct. 23, according to a company news release.

The purchase price for the tender offer is $1,031.25 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date, which was Sept. 22.

The company said it funded the tender offer with available cash and the proceeds from a private placement of debt securities that closed on Sept. 22.

The offer began Sept. 14.

Citigroup Global Markets Inc. (800 558-3745), Credit Suisse Securities (USA) LLC (800 820-1653) and J.P. Morgan Securities Inc. (866 834-4666) were the dealer managers for the tender offer.

The information agent was Global Bondholder Services Corp. (212 430-3774 for banks and brokers, otherwise 866 470-4200).

DirecTV Holdings is a wholly owned subsidiary of DirecTV Group, Inc., an El Segundo, Calif.-based provider of digital television entertainment services.

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