DIRECTV Holdings LLC (the “Company”), an indirect subsidiary of DIRECTV (NASDAQ: DTV), today announced that it will redeem for cash all of its outstanding 6.375% Senior Notes due 2015 (the “Notes”) on June 15, 2011, at a price of 102.125 percent of the principal amount together with accrued interest to the redemption date.
The Notes were issued pursuant to an Indenture dated June 15, 2005, as supplemented (the "Indenture"), among the Company and DIRECTV Financing Co., Inc., as co-issuers, the guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as trustee.
As of May 16, 2011, $658,767,000 aggregate principal amount of Notes remain outstanding. On and after the date of redemption, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of the holder of the Notes will cease to exist, except for the right to receive the redemption price, without interest thereon.
The notice of redemption containing information required by the terms of the Indenture was sent to registered holders of the Notes today. Notes are to be surrendered to The Bank of New York Mellon Trust Company, N.A. as trustee and paying agent, in exchange for payment of the redemption price on June 15, 2011. Questions relating to the notice of redemption should be directed to The Bank of New York Mellon at (213) 630-6489.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
NOTE: This release may include or incorporate by reference certain statements that we believe are, or may be considered to be, "forward-looking statements" within the meaning of various provisions of the Securities Act of 1933 and of the Securities Exchange Act of 1934. These forward-looking statements generally can be identified by use of statements that include phrases such as "believe," "expect," "estimate," "anticipate," "intend," "plan," "project" or other similar words or phrases. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. All of these forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or from those expressed or implied by the relevant forward-looking statement. Such risks and uncertainties include, but are not limited to: economic conditions; product demand and market acceptance; ability to simplify aspects of our business model, improve customer service, create new and desirable programming content and interactive features, and achieve anticipated economies of scale; government and regulatory action; local political or economic developments in or affecting countries where we have operations, including political, economic and social uncertainties in many Latin American countries in which DTVLA operates; foreign currency exchange rates; currency exchange controls; ability to obtain export licenses; competition; the outcome of legal proceedings; reliance on key executives and the loss thereof; indemnification obligations; ability to achieve cost reductions; increasing subscriber acquisition costs and subscriber churn; ability of third parties to timely perform material contracts; an NFL labor dispute; ability to renew programming contracts under favorable terms; technological risk; potential intellectual property infringement; limitations on access to distribution channels; natural disasters; the success and timeliness of satellite launches; in-orbit performance of satellites, including technical anomalies; loss of uninsured satellites; theft of satellite programming signals; significant debt; and our ability to access capital to maintain our financial flexibility. These factors are also described in Item 1A of DIRECTV's Form 10-K, quarterly reports filed on Form 10-Q and other SEC filings. We urge you to consider these factors carefully in evaluating the forward-looking statements.
DIRECTV (NASDAQ:DTV) is one of the world's leading providers of digital television entertainment services. Through its subsidiaries and affiliated companies in the United States, Brazil, Mexico and other countries in Latin America, DIRECTV provides digital television service to more than 19.4 million customers in the United States and nearly 10 million customers in Latin America. DIRECTV sports and entertainment properties include three regional sports networks (Northwest, Rocky Mountain and Pittsburgh) as well as a 60 percent ownership interest in Game Show Network. For more information on DIRECTV, visit directv.com.