Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Q > Headlines for QVC Inc. > News item |
QVC sets guidance for two-part senior secured notes offering
By Paul A. Harris and Aleesia Forni
Virginia Beach, March 11 - QVC Inc. is planning to price senior secured notes (Ba2/BBB-/) in tranches due 2019 and 2024, according to market sources and a company press release.
The five-year issue is guided at Treasuries plus 185 basis points, while the 10-year issue is being guided at 225 bps over Treasuries.
The notes will be secured by a first-priority lien on the capital stock of QVC.
Proceeds will be used to repay debt under the company's senior secured credit facility and for working capital and other general corporate purposes.
BofA Merrill Lynch is bookrunner for the Rule 144A and Regulation S notes.
The home shopping retailer is based in West Chester, Pa.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.