Discovery Communications’ $1.5 Billion Senior Notes Offerings

Davis Polk advised the representatives of the several underwriters in connection with SEC-registered offerings by Discovery Communications, LLC.

Barclays Capital Inc. and J.P. Morgan Securities LLC acted as representatives of the underwriters in the deal.

Discovery Communications, LLC of $750 million aggregate principal amount of 4.125% senior notes due 2029 and $750 million aggregate principal amount of 5.300% senior notes due 2049. The net proceeds from the offerings were approximately $1.48 billion, which Discovery intends to use for redemption of existing notes and for general corporate purposes.

Based in Silver Spring, Maryland, Discovery is a global media company that provides content across multiple distribution platforms, including linear platforms such as pay-television, free-to-air, broadcast television and authenticated GO and various digital distribution platforms around the world. Discovery distributes customized content in the United States and over 220 other countries and territories in over 50 languages. Discovery’s global portfolio of networks includes prominent nonfiction television brands such as Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, TLC, Animal Planet, Investigation Discovery, Science Channel and MotorTrend (previously known as Velocity domestically and currently known as Turbo internationally).

The Davis Polk corporate team included partner Derek Dostal (Picture) and associate Angela Park. Counsel Ethan R. Goldman and associate Daniel L. Jose provided tax advice. Partner Frank J. Azzopardi and associate Gianna C. Walton provided intellectual property and technology advice.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell; Daniel Jose – Davis Polk & Wardwell; Angela Park – Davis Polk & Wardwell; Gianna Walton – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti