Reported 28 days ago
Television shopping channel QVC Inc. has launched exchange offers for its 4.75% and 4.375% senior secured notes due in 2027 and 2028, respectively, aiming to alleviate its debt by pushing out maturities valued at approximately $1 billion. With both notes trading below par, the company's strategy is intended to enhance its credit profile by reducing debt balances and extending maturities. Holders of the 2028 notes will receive new notes due in 2029, while those with 2027 notes will receive a combination of new notes and cash.
Source: YAHOO