Fox Prepares To Sell $1B In Debt
The company says the cash will be used for the catch-all “general corporate purposes”, which could include refinancing of its $900M in debt that matures next year. 21st Century Fox‘s News America Incorporated is backing two offerings: One will sell $300M in senior notes due in 2023 that pay an annual interest rate of 4.0%. The other is for $700M in senior notes that are due in 2043 and pay 5.4%. Fox expects the offers to close on September 30. Moody’s Investors Service gives the company a medium-grade rating of Baa1 and says the deal will have “no material impact” on its leverage as it takes advantage of “the low but rising interest rate environment.”
Related: Rupert Murdoch’s Fiscal ’13 Earnings Drop To $28.9M
Related stories
No Name Change For 20th Century Fox
Chloe Moretz In Talks To Join ‘Dark Places’ With Charlize Theron
Get more from Deadline.com: Follow us on Twitter, Facebook, Newsletter