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.”
By DAVID LIEBERMAN, Financial Editor | Wednesday September 25, 2013 @ 5:09pm EDTTags: 21st Century Fox, Big Deals Film
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