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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sky | LSE:SKY | London | Ordinary Share | GB0001411924 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,727.50 | 1,727.00 | 1,727.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
By Ian Walker
LONDON--British Sky Broadcasting Group PLC (BSY.LN) Wednesday priced a GBP3.25 billion ($5.25 billion) four-tranche bond issue to fund the acquisitions of Sky Italia and Sky Deutschland (SKYD.XE), announced in July.
The bonds will be in four tranches in both euros and U.S. dollars. They will comprise EUR1.5 billion ($1.94 billion) of senior unsecured notes with a coupon of 1.500%, due 2021; EUR1 billion of senior unsecured notes with a coupon of 2.500%, due 2026; $750 million senior unsecured notes with a coupon of 2.625%, due 2019; and $1.25 billon senior unsecured notes with a coupon of 3.750%, due 2024.
BSkyB, the leading pay-television operator in the U.K., announced on July 25 the acquisitions of its sister companies in Germany and Italy from 21st Century Fox in a deal worth just over $9 billion, the majority in cash, to create a pan-European pay-TV giant with around 20 million customers across Germany, Italy, Austria, the U.K. and Ireland.
BSkyB said it would buy Fox's 100% stake in the Italian TV company Sky Italia for GBP2.45 billion, GBP2.09 billion of which in cash. The U.K. company said it would buy 21st Century Fox's 57.4% stake in Sky Deutschland AG for GBP2.9 billion in cash, valuing the German business at EUR6.75 a share.
BSkyB is also offering EUR6.75 a share to Sky Deutschland's remaining minority shareholders, but BSkyB Chief Financial Officer Andrew Griffith said at the time the company is "neutral" about buying out those holders.
BSkyB's biggest shareholder is 21st Century Fox with a 39.1% stake. 21st Century Fox was until late June part of the same company as Wall Street Journal and Dow Jones Newswires owner News Corp.
Write to Ian Walker at ian.walker@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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