Rovi Corp. says it plans to offer $400 million of senior notes
By APWednesday, March 10, 2010
Rovi Corp. plans to offer $400M of senior notes
SANTA CLARA, Calif. — Rovi Corp. said Wednesday that it plans to issue $400 million of senior notes to buy back shares and pay down debt.
Rovi, which provides TV listings data and related services, said the notes will be due in 2040 and will be offered to institutional investors.
The company plans to use $159.6 million of the proceeds to pay down all of the amounts outstanding in its senior credit facility. It will use $100 million to buy back shares and $75 million to repurchase senior notes due in 2011.
YOUR VIEW POINT
