DIRECTV Announces Partial Redemption of 8-3/8% Senior Notes.EL SEGUNDO, Calif. -- The DIRECTV Group, Inc. (NYSE NYSE See: New York Stock Exchange :DTV (Digital TeleVision) Transmitting TV using digital signals. The major DTV standards are ATSC (North America), DVB (Europe) and ISDB (Japan). All three use MPEG-2 video compression and Dolby Digital audio compression. DVB and ISDB also include MPEG audio compression. ) announced today that two of its subsidiaries, DIRECTV Holdings LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and DIRECTV Financing Co., Inc. (the "Issuers"), have elected to redeem $490 million aggregate principal amount of their outstanding 8-3/8% Senior Notes due 2013, representing 35% of the $1.4 billion aggregate principal amount outstanding. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. will be May 19, 2005, and, in accordance with the terms of the indenture governing the notes, the redemption price will be 108.375% of the principal amount, plus accrued and unpaid interest, for a total of approximately $538 million. The Issuers are exercising their option to redeem a portion of the notes with the proceeds of an equity investment that DIRECTV Group has made in DIRECTV Holdings. The trustee for the notes is The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , telephone 213-630-6176. This announcement is neither a request nor an offer for tender of securities of The DIRECTV Group, Inc. nor DIRECTV Holdings LLC. The DIRECTV Group, Inc. (NYSE:DTV) is a world-leading provider of digital multichannel television entertainment, broadband satellite networks and services. The DIRECTV Group, Inc. is 34 percent owned by News Corporation. For more information please visit www.directv.com. |
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