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 story : AT&T unit DirecTV to offer .1 billion in six-year bonds ahead of planned spinoff #FinanceUSA #StockMarketNEWS At&T Inc. unit DirecTV Entertainment Holdings LLC said Monday it is planning an offering

@stockMarketNEWS 12 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

AT&T unit DirecTV to offer .1 billion in six-year bonds ahead of planned spinoff #FinanceUSA #StockMarketNEWS
At&T Inc. unit DirecTV Entertainment Holdings LLC said Monday it is planning an offering of .1 billion of six-year bonds with the proceeds to be used, along with proceeds from a new credit facility, to pay debt owed to its parent company ahead of a planned spinoff. AT&T announced in late February that it would spin off the loss-making video business, creating a new company called DirecTV, with private-equity firm TPG Capital taking a 30% stake in the business. AT&T purchased DirecTv in 2015 for billion. The new company will house the DirecTV, AT&T TV, and U-Verse businesses. The companies expect the deal to close in the second half of this year. AT&T shares were down 0.9% in premarket trade, and are down 1.5% in the year to date, while the S&P 500 has gained 15%.


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