DIRECTV Group (DTV) Completes $2.5 Billion Debt Financing
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The DIRECTV Group, Inc. (NASDAQ: DTV) announced that its subsidiaries, DIRECTV Holdings LLC and DIRECTV Financing Co., Inc., have completed their previously announced $2.5 billion debt financing. This financing consists of $1.5 billion in 7-5/8% senior notes due 2016 and $1.0 billion of incremental floating rate term loans under their existing senior secured credit facility. The net proceeds of these financings are available for general corporate purposes, including payment of a dividend to DIRECTV Group, to be used by it to fund purchases of its stock under its recently announced $3 billion share repurchase program.
The DIRECTV Group, Inc. is a provider of digital television entertainment in the United States and Latin America.[SM]
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