Univision Bid is Debt-Heavy

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The group attempting to buy Univision Communications Inc. plans to carry a lot of debt in its purchase of the Spanish-language network, according to a filing with the Securities & Exchange Commission.


An investment consortium led by Los Angeles entrepreneur Haim Saban agreed in June to buy Univision for $12.3 billion, plus another $1.4 billion in debt, bringing the total capital commitment to $13.7 billion. In the new filing, Univision disclosed that the consortium has secured $10.2 billion in debt and plans to put up $3.9 billion in cash.


Institutions funding the debt include Deutsche Bank, Credit Suisse, Bank of America, Wachovia Bank, The Royal Bank of Scotland PLC and Lehman Brothers.


The SEC filing called the Univision buyout a merger and detailed how stockholders will vote to approve or disapprove the deal later this year.

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