QVC pricing $750 million crossover sale of 10-, 30-year notes Monday

By Andrea Heisinger

New York, March 4 - QVC, Inc. is planning a $750 million offering of senior secured notes (Ba2/BBB-/BBB-) in two maturities for pricing on Monday, an informed source said.

The offering includes a 10-year tranche and a 30-year bond. There was no price guidance as of midday, the source said.

Barclays, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

The sale is being done under Rule 144A and Regulation S.

Proceeds, along with cash on hand, will be used to fund a cash tender offer for $500 million of 7.125% senior secured notes due 2017 and up to $250 million of 7.5% senior secured notes due 2019.

The notes are secured by a first-priority lien on the capital stock of QVC.

The home shopping retailer is based in West Chester, Pa.

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