Discovery Communications, Inc. (Nasdaq: DISCA, DISCB, DISCK) announced today that Discovery Communications, LLC has priced an offering of $450 million aggregate principal amount of a new series of 3.800% Senior Notes due 2024 and $200 million aggregate principal amount of additional senior notes pursuant to a reopening of its existing 4.900% Senior Notes due 2026.
The 2026 Notes were priced at 105.038% of their principal amount to yield 4.206% to maturity. The 2024 Notes were priced at 99.811% of their principal amount to yield 3.831% to maturity. The sale of the Notes is expected to close on March 13, 2017, subject to customary closing conditions.
The Notes will be unsecured and will rank equally with all of DCL's other unsecured senior indebtedness. The Notes will be fully and unconditionally guaranteed on an unsecured and unsubordinated basis by the Company.
DCL expects the net proceeds from the offering of the Notes to be approximately $654.1 million after deducting the underwriting discount and estimated expenses related to the offering.
About Discovery Communications:
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) satisfies curiosity and engages superfans with a portfolio of premium nonfiction, lifestyle, sports and kids programming brands. Reaching more than 3 billion cumulative viewers across pay-TV and free-to-air platforms in more than 220 countries and territories, Discovery's portfolio includes the global brands Discovery Channel, TLC, Investigation Discovery, Animal Planet, Science and Turbo/Velocity, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe. Discovery reaches audiences across screens through digital-first programming from digital content holding company Group Nine Media, Discovery VR, over-the-top offerings Eurosport Player and Dplay, as well as TV Everywhere products comprising the GO portfolio of TVE apps and Discovery K!ds Play. For more information, please visit www.discoverycommunications.com.
