Simpson Thacher represented the initial purchasers, led by Citigroup, in connection with a Rule 144A/Regulation S offering by Univision Communications Inc., a wholly owned subsidiary of TelevisaUnivision, Inc., of $400 million aggregate principal amount of additional 7.375% Senior Secured Notes due 2030. The additional notes constituted a reopening of the $500 million principal amount of notes initially issued on June 24, 2022 increasing the aggregate principal amount of the series to $900 million.
TelevisaUnivision intends to use the net proceeds from this offering, together with cash on hand, to repay a portion of its existing term loans due 2024, including any costs, fees and expenses in connection therewith.
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 United States and Las Estrellas and Canal 5 in Mexico. TelevisaUnivision is home to Spanish-language cable networks, including Galavisión and TUDN, the No. 1 Spanish-language sports network in the United States.
The Simpson Thacher team for the transaction included Todd Crider, Marisa Stavenas, John O’Connell, Ben Massey, Winnie Loureiro and Alex Michael (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 Timothy Gallagher (Real Estate); and Jennie Getsin (Blue Sky).