English Entertainment
21st Century Fox America announces new debt issue pricing
MUMBAI: It’s raising debt though the issue of senior notes. Twenty-First Century Fox (21st Century Fox) — the parent of leading Indian TV network Star India – subsidiary, 21st Century Fox America (21CFA ), today announced the pricing of its debt issue.
The American entertainment major stated that it was issuing $850 million in aggregate principal amount of Senior Notes, which will be conducted in two tranches consisting of $450 million senior notes carrying a ticket interest of 3.375 per cent which will become due in 2026.
The second tranche of senior notes of $400 million will carry a sticker price of 4.750 per cent and will mature in 20146. The senior notes will be guaranteed by the company.
The closing of the offering is expected to occur on 18 November, subject to the satisfaction of customary closing conditions.
21CFA will receive gross proceeds of $848,687,500 from this offering and expects to use the net proceeds for general corporate purposes, the company said in a press release.
