Home Shopping Net redeems notes

Home Shopping Network Inc., the Fort Lauderdale-based cable programmer, is redeeming its 11 3/4% senior notes due Oct. 15, 1996, for early redemption.

The company said on Nov. 30, 1992, there were $ 143,252,000 principal amount senior notes outstanding.

The proceeds of a $ 60 million term loan and a $ 40 million three-year revolving credit facility, co-agented by Long-Term Credit Bank of Japan and Bank of Montreal, will be used to retire the notes, the company said.

The notes selected will be redeemed at 104% of their principal, plus accrued interest to the redemption rate.

HSN said it also has received a commitment letter from Long-Term Credit Bank of Japan to enter into another term loan, the proceeds of which would redeem all or a portion of the remaining 11 3/4% notes.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety