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Scripps Networks Interactive Prices Debt Offering of $1.5 Billion of Senior Notes

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Scripps Networks Interactive, Inc. (NYSE:SNI) , one of the world’s leading developers of lifestyle content for television, Internet and mobile, has priced the public offering of $1.5 billion in aggregate principal amount of senior unsecured notes. The Senior Notes consist of the following tranches:

  • $600 million in aggregate principal amount of 2.80 percent notes due 2020, at a price equal to 99.659 percent of the principal amount
  • $400 million in aggregate principal amount of 3.50 percent notes due 2022, at a price equal to 99.69 percent of the principal amount
  • $500 million in aggregate principal amount of 3.95 percent notes due 2025, at a price equal to 99.81 percent of the principal amount

Scripps Networks Interactive intends to use the net proceeds from this offering, as well as cash on hand and borrowings under its revolving credit facility, to complete the acquisition of Polish media company TVN, to refinance certain TVN debt and for general corporate purposes. The sale of the senior unsecured notes is expected to close on June 2, 2015, subject to customary closing conditions.

The joint book-running managers for the offering are J.P. Morgan Securities LLC; Merrill Lynch Pierce, Fenner & Smith Incorporated; Mitsubishi UFJ Securities (USA), Inc.; and Wells Fargo Securities, LLC.

The offering of Senior Notes is being made pursuant to an effective shelf registration statement filed with the Securities & Exchange Commission. The offering of Senior Notes will be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained, when available, from the SEC website at Alternatively, the underwriters or Scripps Networks Interactive will arrange to send these documents to interested parties if requested by contacting:

o J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York, 10179,
Attention: Investment Grade Syndicate Desk, 3rd Floor,
telephone collect at 212-834-4533

Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor,
New York, NY 10038, Attention: Prospectus Department, Call toll-free 800-294-1322 or email


Mitsubishi UFJ Securities (USA), Inc., 1633 Broadway, 29th Floor, New York, NY, 10019-6708

Attn: Capital Markets Group, Toll-free #: 877-649-6848


Wells Fargo Securities, LLC, 608 2nd Avenue, South Minneapolis, MN 55402,
Attn: WFS Customer Service, Call toll-free 800-645-3751 or email


Scripps Networks Interactive Investor Relations at 1-865-694-2700
or by written request to Scripps Network Interactive, 9721 Sherrill Blvd.,
Knoxville Tenn. 37932, Attn: Investor Relations.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Senior Notes referred to above. No offer to sell or solicitation of an offer to buy such Senior Notes shall be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc. (the “Company”) is one of the leading developers of engaging lifestyle content in the home, food and travel categories for television, the Internet and emerging platforms. The Company’s lifestyle media portfolio comprises popular television and Internet brands HGTV, DIY Network, Food Network, Cooking Channel, Travel Channel and Great American Country, which collectively reach more than 177 million consumers each month. Companion websites complement on-air programming with video and social media that inform and inspire. The Company’s global networks reach millions of consumers across North and South America, Asia, Europe, the Middle East and Africa. Scripps Networks Interactive is headquartered in Knoxville, Tenn.

Forward-looking statements

This press release contains certain forward-looking statements related to the Company’s businesses that are based on management’s current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The Company’s written policy on forward-looking statements can be found on page F-4 of its 2014 Form 10-K filed with the SEC.

The Company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made.

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