Univision financing package to include $8.25 billion credit facility, $2 billion bonds

By Sara Rosenberg

New York, June 28 - Univision Communications Inc.'s leveraged buyout financing package is anticipated to include an $8.25 billion credit facility and $2 billion of high-yield bonds, according to a market source.

Deutsche Bank, Credit Suisse, Bank of America, Wachovia and RBS Securities are all leading the debt financing transactions, with Deutsche the left lead on the credit facility and Credit Suisse left lead on the bonds.

The credit facility will consist of a $750 million revolver and a $7.5 billion term loan, the source said.

As was previously reported, Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group have agreed to acquire Univision for $36.25 per share in cash. The transaction is valued at $13.7 billion, including the assumption of $1.4 billion in debt.

The sponsors are planning to contribute $3.8 billion in equity to support the buyout, the source remarked.

Total leverage for the transaction is 12.5 times.

The acquisition is subject to the approval of Univision shareholders, regulatory approvals and customary closing conditions, and is expected to close in the spring of 2007. The transaction is not contingent on financing.

Univision is a Los Angeles-based Spanish-language media company.

© 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.