18th Nov 2008 07:00
NOT FOR DISTRIBUTION IN THE UNITED STATES
Bond Issue
British Sky Broadcasting Group plc last night announced a private placement with institutional investors to raise net proceeds of approximately U.S.$600 million from the issuance of guaranteed notes (the 'Notes'). The Notes will be issued by British Sky Broadcasting Group plc and will be guaranteed by British Sky Broadcasting Limited, BSkyB Finance UK plc, BSkyB Investments Limited, BSkyB Publications Limited, Sky In-Home Service Limited and Sky Subscribers Services Limited. The Notes to be issued consist of U.S.$600 million aggregate principal amount of Notes paying 9.5 % interest and maturing on 15 November 2018. It is expected that the net proceeds of the offering will be used for general corporate purposes. In addition, the Company may use the net proceeds of the offering for the refinancing of existing debt and for acquisitions of businesses and/or assets in support of its strategy. The offering is expected to close on or about 24 November 2008.
The securities referred to in this document have not been, and will not be, registered under the U.S. Securities Act of 1933 (the 'Securities Act'), or under the securities legislation of any state of the United States, and may not be offered or sold in the United States, other than pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The issuer of the Notes does not presently intend to make a public offer of securities in the United States or to register any securities under the Securities Act.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes. Any offer of the Notes will be made only by means of a private offering memorandum. It is expected that a prospectus in respect of the Notes will shortly be filed with the UK Listing Authority and will be made available to the public in printed form at the registered office of British Sky Broadcasting Group plc (as set out below), at the offices in London of each of the initial purchasers of the Notes and at the offices of the paying agent in London.
Address of Issuer
British Sky Broadcasting Group plc
Grant Way
Isleworth
Middlesex TW7 5QD
Enquiries:
Analysts/Investors:
Alison Dolan 020 7705 3623
Mike Hazell 020 7800 4205
Francesca Pierce 020 7705 3337
Press:
Robert Fraser 020 7705 3036
Related Shares:
Sky