Univision Communications announced another tender offer to buy back some of its more expensive debt. The company has commenced a tender offer to purchase any and all of its outstanding 9.75%/10.50% Senior Notes due 2015. Univision currently has $283.9 million aggregate principal amount of the notes outstanding.
Holders who tender by the early tender date of February 4th will receive the total consideration of $1,053.75 per $1,000 principal amount of notes, which includes the early tender consideration of $30.00 per $1,000 principal amount of notes, plus an amount equal to any accrued and unpaid interest up to, but not including, the settlement date.
Holders who tender after that, but before the tender expiration on February 18th, will not receive the $30 early tender consideration.
Univision has been aggressively reworking its balance sheet since announcing a $1.2 billion investment by Mexico’s Grupo Televisa.