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DirecTV Announces Latest Financing Maneuvers
The DirecTV Group Inc. said its DirecTV Holdings LLC subsidiary completed its previously announced senior secured credit facility. The size of the facility was increased to $2.5 billion as DirecTV elected not to proceed with an anticipated $500 million unsecured notes offering. The company also announced that DirecTV Holdings LLC and DirecTV Financing Co. Inc. elected to redeem $490 million aggregate principal amount of their outstanding 8-3/8 percent Senior Notes due in 2013, representing 35 percent of the $1.4 billion aggregate principal amount outstanding.
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