DirecTV Closes $1B Notes Offering


DirecTV Holdings LLC and DirecTV Financing Co. Inc. said Wednesday that they have closed their previously announced offering of $1 billion principal amount of senior notes due 2015.

DirecTV Group Inc. said it will use the net proceeds from this offering to repay $500 million of borrowings under its current senior secured credit facility, with the remainder to be retained for general corporate purposes.

The 10-year senior notes are unsecured and guaranteed on a senior basis by all of DirecTV's domestic subsidiaries, the direct-broadcast satellite company added.