QVC to repay portion of senior secured credit facility via new notes

By Sarah Lizee

Olympia, Wash., Nov. 19 – QVC, Inc. plans to repay a portion of the borrowings outstanding under its senior secured credit facility using proceeds from a new issue of notes, according to a press release.

QVC’s senior secured credit facility is used for working capital purposes and, among other things, may be used for the repayment of other debt and the payment of dividends to parent company Qurate Retail, Inc. for general corporate purposes, including repurchases of its common stock.

The company announced Tuesday that it plans to price an offering of $25-par senior secured notes due 2068.

QVC is a West Chester, Pa.-based online shopping services provider.

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