DirecTV Unit Closes $3B Bond Offer

Proceeds could fund share buybacks
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DirecTV Holdings, an indirect subsidiary of DirecTV, said Tuesday that
it has completed a $3 billion offering of senior notes that could be
used for general corporate purposes, including funding a planned share
repurchase program at the satellite TV giant.

DirecTV Holdings said
it closed the registered offering of $750 million of 3.125% Senior Notes
due 2016, $1 billion of 4.6% Senior Notes due 2021 and $1.25 billion of
6% Senior Notes due 2040 on Aug. 17.

In a statement, DirecTV said
that proceeds from the offering could be used to repay some of all of
the outstanding borrowings under the Term Loan A and Term Loan B
portions of its senior secured credit facility, a distribution to its
parent DirecTV for its share repurchase plan and other corporate
purposes.

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