Scripps Networks borrows to retire


Scripps Networks InteractiveA $1 billion senior secured note offering from Scripps Networks Interactive will largely be used to pay off a debt that comes due early next year. Moody’s rated the offering and speculated on future plans for SNI.

According to Moody’s Investors Service analyst Neil Begley, some of the incoming cash will be used for general corporate purposes, but the majority will go to retiring an $855M note that matures 1/15/15.

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