DirecTV Increases Credit Line
Los Angeles Business Journal Online
DirecTV Group Inc., said two of its units will take out a new $2 billion secured credit line and will sell nearly $500 million in unsecured bonds to pay off the units’ $1.26 billion credit line and to repay an $875 million promissory note owed to the parent company. The units, DirecTV Holdings LLC and DirecTV Financing Co., also will redeem $490 million in principal amount of their 8.375 percent senior notes due in 2013, the El Segundo-based parent said in a release.