Univision starts roadshow for $1.05 billion eight-year secured notes; initial talk 5% area

By Paul A. Harris

Portland, Ore., May 3 – Univision Communications Inc. began a roadshow on Monday for a $1.05 billion offering of eight-year senior secured notes (S&P: B+), according to market sources.

The deal, which was scheduled to kick off on a Monday afternoon conference call with investors, is in the market with initial guidance in the 5% area and is expected to price on Friday.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BofA Securities Inc., Barclays and Citigroup Global Markets Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The New York City-based Spanish language media company plans to use proceeds of the notes to help fund its merger with Grupo Televisa SAB's media assets.

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