Mexico, – The Televisa Group, the largest media company in Latin America, announced on Tuesday the placement of a $ 750 million debt bond with the US Securities and Exchange Commission.
With a rate of 5.250% and expiration in 2049, Televisa expects the offer to be completed on May 24 subject to conventional closing conditions, the company said in a press release released in Mexico City.
The group anticipated that the gross resources from the offer, before the discount for placement and other expenses of the same, will be of 739.4 million dollars.
“Televisa plans to use the net proceeds obtained from the issue for corporate purposes in general, which may include the prepayment or repurchase of existing debt,” the group said.
BBVA Securities Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC will participate as underwriters, he said.
As of March 31, the Televisa company reported a total debt of 121,002 million pesos (6,361.8 million dollars), a decrease of 970 million pesos (50.9 million dollars) with respect to the closing of 2018.
Televisa achieved 858.1 million pesos (45.1 million dollars) of net profit in the first quarter of 2019, 13.8% less than in the same period of 2018.
In the first quarter of 2019, Televisa’s net sales reached 23,395.2 million pesos (1,230 million dollars), with an increase of 2.6% compared to the result obtained in the same quarter of 2018.
Televisa distributes the content it produces through various television channels opened in Mexico and in more than 75 countries, through 26 brands of pay television channels and television channels, cable operators and additional services over the Internet (“OTT “, for its acronym in English).
In the United States, Televisa’s audiovisual content is distributed through Univisión (EFE).