Summary
This 8-K filing from Discovery Communications, Inc. (WBD) reports on the completion of a registered offering of $1 billion in aggregate principal amount of senior notes. The offering consisted of $500 million of 3.30% notes due 2022 and $500 million of 4.95% notes due 2042. These notes are unsecured and guaranteed by Discovery Communications, Inc., ranking equally with other unsecured senior indebtedness of Discovery Communications, LLC (DCL).
Key Highlights
- 1Discovery Communications, LLC (DCL) successfully issued $1 billion in senior notes.
- 2The offering comprises two tranches: $500 million of 3.30% Notes due 2022 and $500 million of 4.95% Notes due 2042.
- 3The notes mature on May 15, 2022, and May 15, 2042, respectively.
- 4Interest payments are scheduled semi-annually, on May 15 and November 15, commencing November 15, 2012.
- 5DCL has the option to redeem the notes early, subject to a make-whole premium.
- 6The notes are unsecured and guaranteed by Discovery Communications, Inc.
- 7The issuance was conducted through an underwritten public offering with J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and RBS Securities Inc. acting as representatives for the underwriters.