WASHINGTON (dpa-AFX) - Discovery Communications, Inc. (DISCA, DISCB) said Thursday that Discovery Communications, LLC has priced an offering of $500 million aggregate principal amount of its 3.30% senior notes due 2022 and $500 million aggregate principal amount of its 4.95% senior notes due 2042.
The 2022 Notes were priced at 99.167% of their principal amount to yield 3.399% to maturity. The 2042 Notes were priced at 99.228% of their principal amount to yield 5.000% to maturity.
The sale of the Notes is expected to close on May 17.
Discovery Communications, LLC expects the net proceeds from the offering of the Notes to be about $983.4 million after deducting the underwriting discount and estimated expenses related to the offering.
Discovery Communications, LLC plans to use the net proceeds for general corporate purposes, including the acquisition of companies or businesses, repayment and refinancing of debt, working capital, capital expenditures and the repurchase by the company of its common stock pursuant to its stock repurchase program.
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