After successfully tendering to buy back $460 million of its senior notes due 2015 – an offer which was greatly oversubscribed – Univision Communications rounded up more cash and filed another tender offer just before Christmas. It too is oversubscribed.
For the currently pending tender Univision had offered to buy back up to $1.005 billion of the remaining 9.75%/10.50% Senior Notes Due 2015. That would be approximately 78% of the $1.289 billion still outstanding.
As of the early tender date of January 6th, Univision reported that $1.245 billion of the notes had been tendered. That’s nearly 97% of the issue outstanding. Thus, this tender will also be prorated.
Notes accepted in the early tender will be cashed out at $1,065 for each $1,000 face amount, which includes a $30 early tender premium. Any additional notes accepted by the final expiration date of January 21 would receive $1,035 for each $1,000 face value.