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Univision accepts $460 million of 9¾%/10½% senior notes tendered
By Marisa Wong
Madison, Wis., Dec. 8 - Univision Communications Inc. announced that its cash tender offer to purchase up to $460 million, or 26.3%, of its $1,748,900,000 of outstanding 9¾%/10½% senior notes due 2015 expired at 12:01 a.m. ET on Dec. 8.
The offer began on Nov. 8. As of the expiration time, $1,166,500,000 principal amount, or 66.7%, of the outstanding notes were tendered.
Univision previously announced that it received tenders for $1,166,400,000 principal amount, or 66.7%, of its of outstanding 9¾%/10½% notes as of Nov. 23. The company accepted and settled $306.8 million of the early tendered notes on Nov. 24.
On Dec. 8 Univision accepted for purchase the remaining tendered notes not purchased on the early settlement date and notes tendered after the early settlement date but before the expiration time up to the tender cap.
The total principal amount of notes accepted for purchase represents 39.4% of all tendered notes.
Tenders were accepted in base denominations and multiples of $1.00. The principal amount of notes purchased from any individual holder may be prorated.
The company paid $1,070 per $1,000 principal amount of notes, which includes a $30 early tender consideration for each note tendered by the early tender time.
Holders who tendered their notes after the early tender time will receive $1,040 per $1,000 of notes.
Holders will also receive accrued interest up to but excluding the settlement date.
The tender offer depends on the completion of one or more debt financing transactions.
Deutsche Bank Securities Inc. (866 627-0391 or 212 250-6429) was the dealer manager for the offer, and Global Bondholder Services Corp. (866 873-7700) was the information agent.
Univision is a Los Angeles-based Spanish-language media company.
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