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DIRECTV Entertainment To Raise $3.1M Via Senior Debt Offering For Debt Financing

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  • AT&T Inc (NYSE: T) subsidiary DIRECTV Entertainment Holdings LLC proposed to raise .1 million via institutional placement of senior secured notes due 2027 by its subsidiaries, DIRECTV Financing, LLC, and DIRECTV Financing Co-Obligor, Inc.

  • Concurrently with the anticipated completion of the transactions contemplated by the Contribution Agreement, dated Feb. 25, among AT&T, AT&T MVPD Holdings LLC (formerly known as V Holdco LLC), DIRECTV and TPG VIII Merlin Investment Holdings, L.P., DIRECTV Financing, LLC is seeking to enter into new senior secured credit facilities.

  • The offering proceeds and the net proceeds from the new credit facility will help pay in cash AT&T's intracompany indebtedness and reimburse certain financing expenses and shared transaction expenses.

  • AT&T held $180.2 billion in total debt as of Mar. 31.

  • Price action: T shares traded lower by 1.09% at $28.03 in the premarket session on the last check Monday.

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