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Discovery prices senior notes offering at €600 million

Discovery Communications is seeking to raise €600 million through the sale of senior notes, in a process that is expected to close this week. 

Discovery said it expects the net proceeds from the notes offering to be roughly €594.2 million after deducting estimated expenses related to the offering.

It said it will use the proceeds to repay a portion of senior notes that are due to be repaid in June 2015 and for general corporate purposes – including the acquisition of other companies or businesses, repayment and refinancing of other debt, working capital, capital expenditures and the repurchase by the company of its capital stock.