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Univision Communications Inc. Announces Offering of Senior Secured Notes | Business




NEW YORK – (BUSINESS WIRE) – May 3, 2021 –

Univision Communications Inc. (the Company), the leading Spanish-language content and media company serving Hispanic America, today announced its intention to offer $ 1.05 billion aggregate principal amount in Notes senior collateral maturing in 2029 (the Notes), subject to market conditions. The Notes will constitute general senior secured obligations of the Company and will be guaranteed by all of the Company’s wholly owned domestic subsidiaries currently securing the obligations under the Company’s existing senior secured credit facilities, secured notes. existing senior loan facility and its planned new term loan facility. .

The offer is part of the financing of the business combination project (the ContentCo business combination) of the multimedia content activity (ContentCo) of Grupo Televisa, SAB (Televisa) with the Companys activity, in accordance with the settlement agreement, dated April 13. , 2021 (the transaction agreement), between Televisa and Univision Holdings, Inc.

Upon completion of the Offer, (i) the net proceeds of the Offer will be deposited into an escrow account of the Company and (ii) the Company will deposit (or cause to be deposited) into such escrow account an amount of cash which, taken with the net proceeds of this offering, would be sufficient to fund a special mandatory redemption of the Notes on the applicable non-date escrow date. Upon completion of the ContentCo business combination and satisfaction of the escrow release conditions, the escrow funds will be released and the Company will use those funds, along with certain equity contributions and the proceeds of the new debt. the Company’s planned term loan facility, to fund the ContentCo business combination and to pay certain related transaction fees and expenses.

If the ContentCo business combination is not consummated on or before the applicable Escrow Date or before such date on which the transaction agreement is terminated, the Company will be required to redeem all Notes at a redemption price. equal to 100% of the issue price. Notes, plus accrued and unpaid interest, if any, up to but excluding the Redemption Date, and, in such event, escrow ownership will be applied to fund that Redemption Price .

The Notes and related collateral will be offered to persons reasonably considered to be qualified institutional purchasers under Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. Persons outside the United States. United States in accordance with Regulation S under the Securities Act. The Notes and related collateral have not been registered under the Securities Act and may not be offered or sold in the United States without registration or without an applicable exemption from the registration requirements.

This release will not constitute an offer to sell, or the solicitation of an offer to buy, and there will be no sale of the Notes in any state or jurisdiction where such an offer or solicitation or sale would be illegal prior to the registration or qualification under the securities laws of such jurisdiction.

About Univision Communications Inc.

As the leading Spanish-language content company in the United States, Univision Communications Inc. entertains, informs and empowers American Hispanics with news, sports and entertainment content on broadcast and television platforms by cable, audio and digital.

Caution Regarding Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some instances, you may identify forward-looking statements by words such as anticipate, plan, may, intend , expect, believe, optimistic or negative of these terms, and similar phrases intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements relating to the offering of the Notes and the use of the proceeds therefrom, the new term loan facility provided by the Company. and the ContentCo business combination.

You are cautioned not to place undue reliance on our forward-looking statements. These forward-looking statements involve numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, general market conditions.

These forward-looking statements reflect our current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. In addition, these forward-looking statements present our estimates and assumptions only as of the date of this press release. We assume no obligation to modify or revise forward-looking statements to reflect events or circumstances occurring after the date on which the forward-looking statement was made. Actual results may differ materially due to these risks and uncertainties.

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CONTACT: Investor contact:

Bob Entwistle +1 201-287-4304 Media contact:

Beatriz Pedrosa-Guanche +1 305 724 8296



SOURCE: Univision Communications Inc.

Copyright Business Wire 2021.

PUB: 05/03/2021 13:45 / DISC: 05/03/2021 13:46

Copyright Business Wire 2021.

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