DirecTV Issues New Debt

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DirecTV Holdings LLC, a unit of satellite TV provider DirecTV Inc., said Tuesday that it priced about $2.98 billion in new debt that it plans to use for general corporate purposes, share repurchasing and possible repayment of some earlier debt.

The El Segundo company, which recently merged with some media businesses spun off by major shareholder Liberty Media Corp., said it issued $1.2 billion of 3.55 percent senior notes due in 2015, $1.3 billion of 5.2 percent senior notes due in 2020, and $500 million of 6.35 percent senior notes due in 2040.

The company expects to close the three-part offering on Thursday. The joint book-running managers on the sale were Citigroup and JP Morgan.

After the company initially announced the sale Monday, Standard & Poor’s affirmed all its debt ratings on the company and its subsidiaries, including its investment grade BBB- corporate credit rating on DirecTV Inc.

DirecTV last month said that it slipped to a $32 million loss in its fourth quarter due to charges related to the merger.

Shares were down 12 percent, or less than 1 percent, to $34.66 in midday trading on the Nasdaq.

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