DIRECTV Completes Debt Financing
The DIRECTV Group said it completed its previously announced $2.5 billion debt financing.
The financing consists of $1.5 billion in 7-5/8-percent senior notes due 2016 and $1.0 billion of incremental floating rate term loans under an existing senior secured credit facility.
Net proceeds of the financings are available for general corporate purposes, including payment of a dividend to DIRECTV Group, and will be used to fund purchases of company stock under a recently announced $3 billion share repurchase program, the DBS provider said.
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