Univision driving by with $300 million tap of 7 3/8% secured notes; initial talk 100.5 area

By Paul A. Harris

Portland, Ore., Aug. 18 – Univision Communications Inc. plans to price a $300 million add-on to its 7 3/8% senior secured notes due June 30, 2030 (B1/B+) in a Thursday drive-by, according to market sources.

Initial guidance has the Rule 144A and Regulation S for life deal coming at an issue price in the 100.5 area, a sellside source said.

Citigroup Global Markets Inc., Barclays, BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

The notes become callable on June 30, 2025 at 103.688.

The New York City-based North American Spanish-language free-to-air television network plans to use the proceeds to refinance a portion of its C-5 term loan B due 2024.

The original $500 million issue price in June 2022.

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