BSkyB is to raise $600 million (£399 million) in a bond issue to institutional investors to fund possible activities such as acquisitions and the refinancing of debt.
Late yesterday the satellite broadcaster launched a private placement of 10-year bond notes, with investors paying 9.5% interest. The offer closes on November 24.
In a statement, Sky said: “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.”
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