TelevisaUnivision’s $500 Million Senior Secured Notes Offering

Simpson Thacher represented the initial purchasers, led by Goldman Sachs.

Univision Communications Inc. (“UCI”), a wholly owned subsidiary of TelevisaUnivision, announced its Rule 144A/Regulation S offering of $500 million aggregate principal amount of 7.375% Senior Secured Notes due 2030.

TelevisaUnivision intends to use the net proceeds from this offering, together with proceeds from a new $500 million Term Loan A Facility, proceeds from a new $500 million Term Loan B Facility and cash on hand, to fund the redemption of all $370 million outstanding aggregate principal amount of UCI’s 9.5% Senior Secured Notes due 2025 and the prepayment of approximately $1.13 billion aggregate principal amount of UCI’s existing term loans due 2024.

As the leading Spanish-language media and content company in the world, TelevisaUnivision features the largest library of owned content and industry-leading production capabilities that power its streaming, digital and linear television offerings, as well as its radio platforms. TelevisaUnivision’s media portfolio includes the top-rated broadcast networks Univision and UniMás in the U.S. and Las Estrellas and Canal 5 in Mexico. TelevisaUnivision is home to 36 Spanish-language cable networks, including Galavisión and TUDN, the No. 1 Spanish-language sports network in the U.S. and Mexico.

The Simpson Thacher team for the transaction included Todd Crider (Picture), Marisa Stavenas, John O’Connell, Kirsten Davis, Ben Massey, Winnie Loureiro and Laura Ribero (Capital Markets); Jon Pall (Collateral); Jonathan Cantor and Ruoxi Zhang (Tax); Jeanne Annarumma, Andrew Kofsky and Pasco Struhs (Executive Compensation and Employee Benefits); Lori Lesser, Kate Mirino and Suyoung Jang (Intellectual Property); Toby Chun and Noreen Lavan (Environmental); Krista McManus and Stephanie Kantor (Real Estate); and Jennie Getsin (Blue Sky).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Toby Chun – Simpson Thacher & Bartlett; Todd Crider – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Suyoung Jang – Simpson Thacher & Bartlett; Stephanie Kantor – Simpson Thacher & Bartlett; Andrew Kofsky – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Winnie Loureiro – Simpson Thacher & Bartlett; Ben Massey – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Laura Ribero – Simpson Thacher & Bartlett; Marisa Stavenas – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Ruoxi Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Univision Communications Inc.;

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Author: Youness Semri