Televisa draws down MXN$14,771 million from
its Revolving Credit Facility
Mexico City, March 24, 2020 - Grupo
Televisa, S.A.B. ("Televisa" or the "Company", NYSE:TV; BMV:TLEVISA CPO) announced today that the Company has drawn down MXN$14,771 million from its Revolving Credit Facility (the “Facility”).
Televisa has taken this step as a prudent and precautionary measure in order to increase its cash position and preserve financial flexibility in light of current uncertainty in
the global markets resulting from the COVID-19 outbreak.
The Facility is scheduled to mature on
March 26, 2022. Interest on the Facility is TIIE (Mexico’s Interbank Equilibrium Interest Rate) plus 87.5 bps as long as
the Company’s net
leverage remains below 3.0x; otherwise interest is TIIE plus 112.5 bps.
The Company may repay amounts borrowed on the last day of any interest period without penalty.
Maintaining a solid balance sheet and sufficient financial flexibility has always been a priority to
the Company. As of
December 31, 2019,
the Company’s weighted average
maturity of its USD-denominated debt was 20.6 years and the weighted average maturity of its Peso-denominated debt was 8.9 years.
As of today, considering the funds obtained from the Facility,
the Company holds MXN$57,373 million in cash and cash equivalents, temporary investments, and certain non-current
investments in financial instruments.
Disclaimer
This
press release contains
forward-looking statements regarding
the Company’s results and prospects. Actual results could differ materially from these statements. The forward-looking statements in this
press release should be read in conjunction with the factors
described in
“Item 3. Key Information – Forward Looking Statements” in
the Company’s Annual Report on Form 20 - F, which, among others, could cause actual results to differ materially from those contained in forward-looking statements made in
this
press release and in oral statements made by authorized officers of
the Company. Statements contained in this release relating to the COVID-19 outbreak, the impact of which on our business performance and financial results remains
inherently uncertain, are forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise.
About Televisa
Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite
pay television system in Mexico. Televisa distributes the content it produces through several broadcast channels in Mexico and in over 70 countries through 25 pay-tv brands, television networks, cable operators and over-the-top or “OTT”
services. In the United States, Televisa’s audiovisual content is distributed through Univision Communications Inc. (“Univision”) the leading media company serving the Hispanic market. Univision broadcasts Televisa’s audiovisual content through
multiple platforms in exchange for a royalty payment. In addition, Televisa has equity and warrants which upon their exercise would represent approximately 36% on a fully-diluted, as-converted basis of the equity capital in Univision Holdings,
Inc., the controlling company of Univision. Televisa’s cable business offers integrated services, including video, high-speed data and voice services to residential and commercial customers as well as managed services to domestic and
international carriers. Televisa owns a majority interest in Sky, a leading direct-to-home satellite pay television system and broadband provider in Mexico, operating also in the Dominican Republic and Central America. Televisa also has
interests in magazine publishing and distribution, professional sports and live entertainment, feature- film production and distribution, and gaming.
