DirecTV refinancing to include $1.75 billion extended bank loans and other secured debt

By Paul A. Harris

Portland, Ore., Jan. 8 – DirecTV plans to refinance a portion of its first-lien term loan and to extend its revolver by means of $1.75 billion of credit facilities and other secured debt, according to a market source.

The bank debt, which includes a $500 million revolver and a $1.25 billion first-lien term loan, is set to launch on Monday via arrangers UBS Investment Bank and Barclays. Commitments are due at noon ET on Friday.

Proceeds will be used to extend by two years a portion of the company’s existing roughly $3.1 billion first-lien term loan and to extend by two years its existing revolver.

DirecTV is an El Segundo, Calif.-based video distribution platform.

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