DIRECTV Holdings LLC Announces Redemption of Notes
DIRECTV (NASDAQ: DTV), today announced that it will redeem for cash all of its outstanding 7-5/8% Senior Notes due 2016 (the “Notes”) on May 15, 2012, at a price of 103.813% of the principal amount, together with accrued interest to the redemption date.
The Notes were issued pursuant to an Indenture dated May 14, 2008, as supplemented (the "Indenture"), among the Company and DIRECTV Financing Co., Inc., as co-issuers, the guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as trustee.
As of April 13, 2012, $1,500,000,000 aggregate principal amount of Notes remain outstanding. On and after the date of redemption, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of the holder of the Notes will cease to exist, except for the right to receive the redemption price, without interest thereon.
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