DirecTV Group Inc. announced Monday that it has launched a tender offer to buy back as much as $910 million of debt, and, according to a news report, it sold $2 billion of senior notes in a private placement.
The El Segundo company, the nation’s largest satellite TV operator, said it will buy back any and all of the outstanding principal of its 8 3/8 percent senior notes due 2013. The company said it would pay $1,031.25 per $1,000 amount of principal, plus any unpaid interest. The tender offer is set to expire on Sept. 21.
Meanwhile, DirecTV Holdings LLC and DirecTV Financing Co Inc, units of the company, sold $2billion of senior notes in two parts, according to Thomson Reuters service IFR. The debt was split evenly between securities due in 2014 and 2019.
DirecTV shares closed up 49 cents, or 2 percent, to $26.03 on the Nasdaq.