TelevisaUnivision Announces Pricing of $1.0 Billion Debt

TelevisaUnivision, Inc. today announced that its wholly-owned subsidiary, Univision Communications Inc. (the “Company”), has priced its refinancing of $1.0 billion of debt. This includes its offering of $500.0 million aggregate principal amount of 8.50% senior secured notes due 2031 (the “Notes”). As part of this transaction, the Company has also entered into an amendment to its 2007 Credit Agreement, pursuant to which the Company will borrow a new tranche of $500 million aggregate principal amount of term loans due 2029 (the “2029 Term Loans”) with an interest rate of adjusted Term SOFR plus a margin of 3.50%, at an issue price of 99.0%. The 2029 Term Loans are expected to close on or about June 6, 2024, and the offering of the Notes is expected to close on or about June 7, 2024, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering of the Notes and the 2029 Term Loans, together with cash on hand, to prepay $1.0 billion of the outstanding aggregate principal amount of its 2026 Term Loans, as well as to pay any costs, fees and expenses in connection therewith. The prepayment is expected to occur substantially concurrent with the closings.

The Notes will be general senior secured obligations of the Company and will be guaranteed by the Company’s wholly-owned domestic subsidiaries that guarantee the obligations under the Company’s senior secured credit facilities and existing senior secured notes.

The Notes and the related subsidiary guarantees are being offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act.

This release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About TelevisaUnivision

TelevisaUnivision, Inc. is a global media company that entertains, informs and empowers consumers with Spanish language news, sports and entertainment content across broadcast, cable, streaming, digital and audio platforms.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained within this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases you can identify forward-looking statements by terms such as “anticipate,” “plan,” “may,” “intend,” “will,” “expect,” “believe,” “optimistic” or the negative of these terms, and similar expressions intended to identify forward-looking statements. The forward-looking statements contained in this press release include, but are not limited to, statements related to the 2029 Term Loans, the offering of the Notes and the use of proceeds therefrom. You are cautioned not to place undue reliance on our forward-looking statements. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, general market conditions.

These forward-looking statements reflect our current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. Also, these forward-looking statements present our estimates and assumptions only as of the date of this press release. We undertake no obligation to modify or revise any forward-looking statements to reflect events or circumstances occurring after the date that the forward-looking statement was made. Actual results may differ materially due to these risks and uncertainties.

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