DirecTV to Offer $1B in Notes

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DirecTV Holdings LLC and DirecTV Financing Co. Inc. said Wednesday that they will privately offer up to $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 will be unsecured indebtedness guaranteed on a senior basis by all of DirecTV's domestic subsidiaries, the direct-broadcast satellite company added.

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