Univision Communications Inc. Announces Early Results of Tender Offer and Early Acceptance of 9.75%/10.50% Senior Notes Due 2015
NEW YORK, Jan. 7, 2011 /PRNewswire/ -- Univision Communications Inc. ("Univision") announced today that as of 5:00 p.m., New York City time, on February 4, 2011, $68,485,248 aggregate principal amount of its 9.75%/10.50% Senior Notes due 2015 (the "Notes"), representing approximately 24.13% of the aggregate principal amount of Notes outstanding, were validly tendered and not validly withdrawn (the "Early Tendered Notes"), in connection with its previously announced cash tender offer to purchase any and all of its outstanding Notes (the "Tender Offer").
Tenders of Notes are being and will be accepted in base denominations of $1.00 and in integral multiples of $1.00 in excess thereof. Holders who validly tendered such Early Tendered Notes, and did not validly withdraw their Notes, and whose notes are accepted for payment, will receive $1,053.75, plus an amount equal to accrued interest, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $30.00 per $1,000 of Notes accepted for payment.
The Tender Offer is scheduled to expire at midnight, New York City time, on February 18, 2011, unless extended (the "Expiration Time"). Promptly following the Expiration Time, Univision expects to accept for purchase, in base denominations of $1.00 and in integral multiples of $1.00 in excess thereof, any and all Notes tendered after the early tender time specified for the Tender Offer and on or prior to the Expiration Time.
This news release is neither an offer to purchase nor a solicitation of an offer to sell any notes. The tender offer is being made pursuant to the Offer to Purchase and related letter of transmittal, copies of which are available from Global Bondholder Services Corporation, the Information Agent for the Tender Offer, by calling (866) 873-7700 (U.S. toll free). Persons with questions regarding the tender offer should contact the following dealer manager – Deutsche Bank Securities Inc. at (866) 627-0391 (U.S. toll free) or (212) 250-6429 (call collect).
About Univision Communications:
Univision Communications Inc. (UCI) is the premier media company serving the U.S. Hispanic community. Its assets include Univision Network, one of the top five networks in the U.S. regardless of language and the most-watched Spanish-language broadcast television network in the U.S. reaching 95% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, reaching 85% of U.S. Hispanic Households; Galavision, the country's leading Spanish-language cable network; Univision Studios, which produces and co-produces reality shows, dramatic series and other programming formats for the Company's platforms; Univision Local Media, which owns and/or operates 62 television stations and 70 radio stations in major U.S. Hispanic markets and Puerto Rico; Univision Interactive Media, which includes Univision.com, the leading Spanish-language Internet destination in the U.S., and Univision Movil, the industry's most comprehensive Spanish-language suite of mobile offerings; and TuTv, U.S. outlet for pay television channels of Mexico-based Grupo Televisa. Headquartered in New York City, UCI has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.
This document contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include: adverse conditions in the capital markets and the failure of holders to participate in the tender offer; changes in federal or state securities laws; and changes in our business and financial condition. The Company assumes no obligation to update forward-looking information contained in this press release.
SOURCE Univision Communications Inc.
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