Univision Raises $1.25 Billion After Boosting Bond Deal by 52%

Univision Communications Inc. sold $1.25 billion in junk bonds, more than doubling the size of the offer from an initially planned $600 million.

The largest Spanish-language broadcaster in the U.S. sold $750 million of 10-year bonds at par to yield 5.125 percent, according to data compiled by Bloomberg. The company also sold an additional $500 million of its 5.125 percent notes due in 2023 at 103 cents on the dollar to yield 4.682 percent, according to a person with knowledge of the sale, who asked not to be identified because the information is private.

The bonds are rated B2 by Moody’s Investors Service and B+ by Standard and Poor’s. Proceeds will be used to refinance the company’s 6.875 percent notes due in 2019.

Univision has been highlighted as a likely candidate for conducting an initial public offering in 2015, according to people with knowledge of the matter. The New York-based company was taken in private in 2007 in a $12.6 billion leveraged buyout by a group of investors led by Saban Capital Group Inc.

High-yield, high-risk securities are rated below Baa3 at Moody’s and less than BBB- by S&P.

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