Davis Polk advised Citigroup Global Markets, Inc. and Barclays Capital as active joint lead arrangers in connection with a $1 billion 3.5-year unsecured revolving credit facility and a $1.5 billion 5-year unsecured revolving credit facility provided to DIRECTV Holdings LLC. The obligations of the borrower under both credit facilities are guaranteed by DIRECTV and certain of the borrower’s material domestic subsidiaries. The facilities will be used for general corporate purposes.
DIRECTV Holdings LLC, a member of The DIRECTV Group, Inc., is a leading provider of direct-to-home digital television entertainment services in the United States. DIRECTV Holdings LLC, through its subsidiaries, provides over 18 million subscribers with access to hundreds of digital-quality channels and exclusive sports programming.
The Davis Polk credit team included partner Jason Kyrwood and associates Meyer C. Dworkin and Jamila A. Diggs. The tax team included partner Kathleen L. Ferrell and associate Arie Rubenstein. All members of the Davis Polk team are based in the New York office.
