Grupo Televisa’s Tender Offers

Cleary Gottlieb represented HSBC (Securities) Inc. and Santander US Capital Markets LLC, as dealer managers, in Grupo Televisa S.A.B.’s (Televisa) offers to purchase for cash five series of notes.

The tender offers consisted of an offer to purchase any and all of Televisa’s outstanding 4.625% notes due 2026 and offers to purchase Televisa’s outstanding 5% notes due 2045, 5.25% notes due 2049, 6.625% notes due 2025, and 6.125% notes due 2046, for an aggregate principal amount of up to $300 million minus the aggregate principal amount of 4.625% notes due 2026 accepted for purchase in the offer for such series of notes.

The tender offers launched on July 26, 2023. The offer for the 4.625% notes due 2026 expired on August 2, 2023, and settled on August 7, 2023. The offers for the rest of the notes had an early expiration deadline of August 8, 2023, and early settled on August 10, 2023.

Televisa is a major telecommunications corporation that owns and operates one of the most significant cable companies as well as a leading direct-to-home satellite pay television system in Mexico. Televisa also holds a number of concessions by the Mexican government that authorize the company to broadcast programming over television stations.