Fox Corp. filed a registration statement Jan. 9 in connection with a $6.8 billion senior notes exchange offer.
The company is offering $750 million of 3.666% senior notes due Jan. 25, 2022, $1.25 billion of 4.030% senior notes due Jan. 25, 2024, $2 billion of 4.709% senior notes due Jan. 25, 2029, $1.25 billion of 5.476% senior notes due Jan. 25, 2039 and $1.55 billion of 5.576% senior notes due Jan. 25, 2049, in exchange for the same principal amount of outstanding notes of the applicable series.
Interest on the exchange notes will be paid semi-annually in arrears on Jan. 25 and July 25 of each year. No subsidiaries of the company will initially guarantee the exchange notes. Following the issue date of the exchange notes, Fox subsidiaries will guarantee the exchange notes on a senior unsecured basis, according to a Jan. 9 company release.
Fox will not receive any cash proceeds from the issuance of the exchange notes.