Univision to price $360 million five-year secured notes on Tuesday

By Paul A. Harris

Portland, Ore., April 21 – Univision Communications Inc. plans to price a $360 million offering of five-year senior secured notes (expected ratings B2/B) in a Tuesday drive-by following a mid-morning investor presentation, according to market sources.

Initial talk is in the low 10% area and is expected to include an original issue discount, a trader said.

Joint physical bookrunner Deutsche Bank Securities Inc. will bill and deliver. J.P. Morgan Securities LLC is also a joint physical bookrunner.

BofA Securities Inc., Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are bookrunners.

The notes come with two years of call protection.

Proceeds will be used to repay debt.

Univision Communications is a New York-based media company serving the Hispanic market.

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