Univision to sell $750 million seven-year notes in Thursday drive-by; initial talk 6¾%-7%

By Paul A. Harris

Portland, Ore., June 4 – Univision Communications Inc. plans to price a $750 million offering of seven-year senior secured notes (existing B2/confirmed B) in a Thursday drive-by, according to market sources.

Initial talk has the notes coming to yield 6¾% to 7%, a trader said.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The New York City-based North American Spanish-language free-to-air television network plans to use the proceeds to refinance a portion of its 5 1/8% senior notes due 2023.

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