Business News

Univision Announces the Expiration of its Tender Offer for its 9.75%/10.50% Senior Notes Due 2015

Tuesday 25. January 2011 - Univision Communications Inc. ("Univision") announced today that its previously announced cash tender offer to purchase up to $1,005,000,000 aggregate principal amount of its outstanding 9.75%/10.50% Senior Notes due 2015 (the "Notes") expired at midnight, New York City time, on Friday, January 21, 2011 (the "Expiration Time").

As of the Expiration Time, $1,244,865,615 aggregate principal amount of the Notes were validly tendered and not validly withdrawn. Univision had previously announced that, as of 5:00 p.m., New York City time, on January 6, 2011, $1,244,865,405 aggregate principal amount of the Notes, representing approximately 96.59% of the aggregate principal amount of Notes then outstanding, were validly tendered and not validly withdrawn (the “Early Tendered Notes”), and Univision accepted and settled $970,683,703 aggregate principal amount of the Early Tendered Notes on January 7, 2011 (the “Early Settlement Date”).
Univision has accepted for purchase, in base denominations of $1.00 and in integral multiples of $1.00 in excess thereof, the remaining validly tendered Notes not purchased on the Early Settlement Date and Notes validly tendered after the Early Settlement Date, but prior to the Expiration Time, up to the tender cap of $1,005,000,000 in aggregate principal amount and subject to certain proration procedures as described in the Offer to Purchase dated December 22, 2010. Holders who validly tendered their Notes prior to the Early Settlement Date will receive $1,065 per $1,000 principal amount of Notes validly tendered (and not previously settled) and accepted for purchase and holders who validly tendered their Notes thereafter will receive $1,035 per $1,000 principal amount of Notes tendered and accepted for purchase on January 24, 2011 (the “Final Settlement Date”). In addition to the consideration described above, holders of Notes validly tendered and accepted for purchase will receive accrued and unpaid interest on the Notes from the last interest payment date for the Notes up to, but not including, the Final Settlement Date. The total aggregate principal amount of Notes accepted for purchase on the Early Settlement Date and the Final Settlement Date represents approximately 80.73% of all validly tendered and not validly withdrawn Notes.
Pursuant to the terms of the tender offer, Notes not tendered in the tender offer, or Notes not accepted for purchase, will remain outstanding, and the terms and conditions governing the Notes, including the covenants and other provisions contained in the indenture governing the Notes, will remain unchanged.