Grupo Televisa’s Dual-Tranche Syndicated $500 Million Revolver and MX$10 Billion Term Loan

April 9, 2024

Cleary Gottlieb represented a syndicate of banks led by BBVA México, Banco Santander México, and Scotiabank, as joint lead arrangers and joint bookrunners, in the refinancing of the existing bank debt of Grupo Televisa, S.A.B. (Televisa).

The refinancing consisted of a dual-tranche syndicated credit facility, including a five-year revolving credit tranche in the Mexican peso equivalent of $500 million, and a five-year term loan tranche in the amount of MX$10 billion. Televisa intends to use the proceeds from the loans to refinance its existing bank debt and for general corporate purposes. The facility became effective on April 9, 2024.

Televisa is a major telecommunications corporation that owns and operates one of the most significant cable companies as well as a leading direct-to-home satellite pay television system in Mexico. Televisa also holds a number of concessions by the Mexican government that authorize the company to broadcast programming over television stations.