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.