Discovery to Raise $500 Million in Notes Offering

Authored by Mark Hefflinger on August 17, 2009 - 9:49am.

Silver Spring, Md. - Discovery Communications (NASD: DISCA), the cable broadcaster that owns such networks as the Discovery Channel, TLC and Animal Planet, said that it plans to raise $500 million through a notes offering.

The company priced the senior notes, which are due in 2019, with the sale expected to close on Wednesday.

Discovery will use the bulk of the proceeds to repay $428 million in debt that is scheduled to mature on Oct. 31.

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