AT&T unit DirecTV to offer $3.1 billion in six-year bonds ahead of planned spinoff

3 months ago 17
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At&T Inc. T, -0.32% portion DirecTV Entertainment Holdings LLC said Monday it is readying an offering of $3.1 cardinal of six-year bonds with the proceeds to beryllium used, on with proceeds from a caller recognition facility, to wage indebtedness owed to its genitor institution up of a planned spinoff. AT&T announced successful precocious February that it would rotation disconnected the loss-making video business, creating a caller institution called DirecTV, with private-equity steadfast TPG Capital taking a 30% involvement successful the business. AT&T purchased DirecTv successful 2015 for $49 billion. The caller institution volition location the DirecTV, AT&T TV, and U-Verse businesses. The companies expect the woody to adjacent successful the 2nd fractional of this year. AT&T shares were down 0.9% successful premarket trade, and are down 1.5% successful the twelvemonth to date, portion the S&P 500 SPX, -0.75% has gained 15%.

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