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TelevisaUnivision Launches Tender Offer for Notes


TelevisaUnivision
TelevisaUnivision

TelevisaUnivision has announced that its subsidiary, Univision Communications Inc., has commenced a cash tender offer to purchase a portion of its outstanding 8.000% senior secured notes due 2028.

The company said the offer will cover up to a maximum principal amount based on the net proceeds it expects to receive from a planned debt financing. As of April 8, approximately $1.44 billion of the notes were outstanding.

The tender offer is scheduled to expire at 5pm ET on May 6, unless extended. Holders who tender their notes by April 21 will be eligible for an early tender premium of $50 per $1,000 principal amount, while later tenders will receive a reduced consideration.

TelevisaUnivision said the transaction is subject to several conditions, including the successful completion of the related debt financing. There is no minimum amount of notes required to be tendered for the offer to proceed.

The company expects to settle early tenders around April 24, with final settlement anticipated on May 8, assuming all conditions are met.

TelevisaUnivision added that it may adjust the maximum tender amount at its discretion and that any accepted notes may be subject to proration if the offer is oversubscribed.

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