Americas Asia-Pacific EMEA






DIRECTV Holdings LLC Prices Issue of $4.0 Billion of New Debt

6 March 2012


DIRECTV Holdings LLC announced today the pricing of an issuance of $1.25 billion of 2.400% Senior Notes due 2017, $1.5 billion of 3.800% Senior Notes due 2022 and $1.25 billion of 5.150% Senior Notes due 2042 (together, the "Notes"). The closing of the offering is expected to occur on March 8, 2012, subject to satisfaction of customary closing conditions. The Company will receive net proceeds of approximately $3.97 billion from this offering and intends to use the net proceeds from the offering for general corporate purposes, which may include a distribution to its parent, DIRECTV, for its share repurchase plan and other corporate purposes.


The Notes to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Notes will be offered only to "qualified institutional buyers" pursuant to Rule 144A of the Securities Act or to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. A confidential offering memorandum will be made available to such eligible holders. The offering will be conducted in accordance with the terms and subject to the conditions set forth in the offering memorandum.