Linklaters has advised the managers on four tranches of bonds issued by BSkyB. Proceeds from the bonds will help finance its acquisition of Sky Italia and a majority stake in Sky Deutschland from 21st Century Fox.
The €1.5 billion bond with a 1.5% coupon due 2021 and the €1 billion bond with a coupon of 2.5% due 2026 were issued pursuant to the £10,000,000,000 Euro Medium Term Note Programme of British Sky Broadcasting Group plc and BSkyB Finance UK plc, unconditionally and irrevocably guaranteed by British Sky Broadcasting Group plc, BSkyB Finance UK plc, British Sky Broadcasting Limited, Sky Subscribers Services Limited and Sky In-Home Service Limited. In addition Linklaters advised the managers on a US$750 million bond with a coupon of 2.625% due 2019 and a US$1.25 billion bond with a coupon of 3.75% due 2024 sold into the United States.
The Linklaters team was led by UK Capital Markets partner Elaine Keats and US Capital Markets partner Cecil Quillen.
Corporate partners John Lane and William Buckley also recently advised Barclays and Morgan Stanley as BSkyB placed 156.1 million new ordinary shares, around 9.99% of its existing issued share capital, to part fund the acquisition.
Source: www.linklaters.com
