Current Report to Indenture Trustee – Amendment of the Company's Senior Secured Credit Facilities

September 11, 2015

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF FEBRUARY 19, 2015 AMONG UNIVISION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO AND WILMINGTON TRUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF MAY 21, 2013 AMONG UNIVISION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO AND WILMINGTON TRUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF AUGUST 29, 2012 AMONG UNIVISION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO AND WILMINGTON TRUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF NOVEMBER 23, 2010 AMONG UNIVISION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO AND WILMINGTON TRUST, NATIONAL ASSOCIATION, AS SUCCESSOR BY MERGER TO WILMINGTON TRUST FSB

Date of Event: September 3, 2015
UNIVISION COMMUNICATIONS INC. (Exact name of Company’s specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization)
95-4398884 (IRS Employer Identification No.)
605 Third Avenue, New York, New York 10158 (Address of principal executive offices) (Zip Code)
(212) 455-5200 (Company’s telephone number, including area code)

Amendment of the Company’s Senior Secured Credit Facilities

On September 3, 2015, Univision Communications Inc., a Delaware corporation (the “Company”), entered into an amendment (the “Amendment”) to the Credit Agreement, dated as of March 29, 2009, as amended as of June 19, 2009, as amended and restated as of October 26, 2010, as amended as of August 21, 2012, as amended as of February 28, 2013, as amended as of May 29, 2013 and as amended on January 23, 2014 (as amended and amended and restated, the “Credit Agreement”), among the Company, as borrower, Univision of Puerto Rico Inc., a Delaware corporation, as the subsidiary borrower, the lenders from time to time party thereto, Deutsche Bank AG New York Branch, as the administrative agent, and the other agents party thereto. The Credit Agreement governs the Company’s senior secured revolving credit facilities and senior secured term loan facilities, which are referred to collectively as the senior secured credit facilities.

The Amendment increases the borrowing capacity of the Company’s revolving credit facility to $850.0 million and extends the maturity to the five-year anniversary of the date that the borrowing capacity is increased (subject to an earlier maturity date of 91 days prior to the March 1, 2020 maturity date of the current term loans if more than $1.5 billion of the current term loans have not been refinanced to have a longer maturity date). The Amendment is contingent upon the initial public offering of the Company’s parent, Univision Holdings, Inc. (formerly known as Broadcasting Media Partners, Inc.) being consummated prior to December 15, 2015, the application of certain specified use of proceeds of the initial public offering to repay indebtedness and other customary conditions. The new revolving credit facility will bear interest at a floating rate, which can either be an adjusted LIBOR rate plus an applicable margin (ranging from 200 to 250 basis points), or, at the Company’s option, an alternate base rate (defined as the highest of (x) the Deutsche Bank AG New York Branch prime rate, (y) the federal funds effective rate plus 0.50% per annum and (z) the one-month adjusted LIBOR rate plus 1%) plus an applicable margin (ranging from 100 to 150 basis points).

The Credit Agreement also provides that we may increase the Company’s existing revolving credit facilities and/or term loans facilities by up to $750.0 million if certain conditions are met, and after giving effect to the Amendment, the Company will have in aggregate made $700.0 million of such increases to its existing revolving credit facilities and term loans facilities.

Email Alerts

Mailing Lists *



Email Address *
 
Enter the code shown above.
Unsubscribe

Disclaimer

This portion of our website contains archival information. Archived information contained or referenced herein should not be considered current and may no longer be accurate.

Ok

Disclaimer

This document contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning or similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on management’s current expectations, assumptions and beliefs which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, and other factors affecting the operations of Univision. Additional information concerning these and other factors can be found in Univision’s filings with the Securities and Exchange Commission (the “SEC”), including Univision’s Registration Statement on Form S-1, initially filed with the SEC on July 2, 2015, as amended. Any forward-looking statement made in this document speaks only as of the date on which it is made. Univision undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Ok