Scripps Networks Interactive Prices Debt Offering of $1.5 Billion of Senior Notes
May 19 2015 - 8:33AM
Business Wire
Scripps Networks Interactive, Inc. (NYSE: SNI), one of the
world’s leading developers of lifestyle content for television,
Internet and mobile, has priced the public offering of $1.5 billion
in aggregate principal amount of senior unsecured notes. The Senior
Notes consist of the following tranches:
- $600 million in aggregate principal
amount of 2.80 percent notes due 2020, at a price equal to 99.659
percent of the principal amount
- $400 million in aggregate principal
amount of 3.50 percent notes due 2022, at a price equal to 99.69
percent of the principal amount
- $500 million in aggregate principal
amount of 3.95 percent notes due 2025, at a price equal to 99.81
percent of the principal amount
Scripps Networks Interactive intends to use the net proceeds
from this offering, as well as cash on hand and borrowings under
its revolving credit facility, to complete the acquisition of
Polish media company TVN, to refinance certain TVN debt and for
general corporate purposes. The sale of the senior unsecured notes
is expected to close on June 2, 2015, subject to customary closing
conditions.
The joint book-running managers for the offering are J.P. Morgan
Securities LLC; Merrill Lynch Pierce, Fenner & Smith
Incorporated; Mitsubishi UFJ Securities (USA), Inc.; and Wells
Fargo Securities, LLC.
The offering of Senior Notes is being made pursuant to an
effective shelf registration statement filed with the Securities
& Exchange Commission. The offering of Senior Notes will be
made only by means of a prospectus supplement and the accompanying
prospectus, copies of which may be obtained, when available, from
the SEC website at www.sec.gov. Alternatively, the underwriters or
Scripps Networks Interactive will arrange to send these documents
to interested parties if requested by contacting:
• J.P. Morgan Securities LLC, 383 Madison Avenue, New
York, New York, 10179,Attention: Investment Grade Syndicate Desk,
3rd Floor,telephone collect at 212-834-4533 •
Merrill Lynch, Pierce, Fenner & Smith
Incorporated, 222 Broadway, 11th Floor,New York, NY 10038,
Attention: Prospectus Department, Call toll-free 800-294-1322 or
email dg.prospectus_requests@baml.com
•
Mitsubishi UFJ Securities (USA), Inc.,
1633 Broadway, 29th Floor, New York, NY, 10019-6708
Attn: Capital Markets Group, Toll-free #:
877-649-6848
•
Wells Fargo Securities, LLC, 608 2nd
Avenue, South Minneapolis, MN 55402,Attn: WFS Customer Service,
Call toll-free 800-645-3751 or email
wfscustomerservice@wellsfargo.com.
•
Scripps Networks Interactive Investor
Relations at 1-865-694-2700or by written request to Scripps Network
Interactive, 9721 Sherrill Blvd.,Knoxville Tenn. 37932, Attn:
Investor Relations.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of the Senior Notes referred to above. No
offer to sell or solicitation of an offer to buy such Senior Notes
shall be made in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc. (the “Company”) is one of the
leading developers of engaging lifestyle content in the home, food
and travel categories for television, the Internet and emerging
platforms. The Company's lifestyle media portfolio comprises
popular television and Internet brands HGTV, DIY Network, Food
Network, Cooking Channel, Travel Channel and Great American
Country, which collectively reach more than 177 million consumers
each month. Companion websites complement on-air programming with
video and social media that inform and inspire. The Company’s
global networks reach millions of consumers across North and South
America, Asia, Europe, the Middle East and Africa. Scripps Networks
Interactive is headquartered in Knoxville, Tenn.
Forward-looking statements
This press release contains certain forward-looking statements
related to the Company’s businesses that are based on management’s
current expectations. Forward-looking statements are subject to
certain risks, trends and uncertainties, including changes in
advertising demand and other economic conditions that could cause
actual results to differ materially from the expectations expressed
in forward-looking statements. All forward-looking statements
should be evaluated with the understanding of their inherent
uncertainty. The Company’s written policy on forward-looking
statements can be found on page F-4 of its 2014 Form 10-K filed
with the SEC.
The Company undertakes no obligation to publicly update any
forward-looking statements to reflect events or circumstances after
the date the statement is made.
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version on businesswire.com: http://www.businesswire.com/news/home/20150519005514/en/
Scripps Networks Interactive, Inc.Investors:Mike Gallentine,
865-560-4473mgallentine@scrippsnetworks.comorMedia Contacts:Dylan
Jones, 865-560-5068djones@scrippsnetworks.comorLee Hall,
865-560-3853lhall@scrippsnetworks.com
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