Scripps Networks Prices $1 Bln Senior Notes Offering

(RTTNews) - Scripps Networks Interactive, Inc., (SNI) said Tuesday that it has priced the public offering of $1 billion aggregate principal amount of Senior Notes consisting of $500 million of 2.75% Senior Notes due 2019 at a price equal to 99.645% of the principal amount; and $500 million of 3.90% Senior Notes due 2024 at a price equal to 99.266% of the principal amount.

The sale of the Senior Notes is expected to close on November 24.

The company plans to use the net proceeds from the offering for general corporate purposes including, but not limited to payoff at maturity of the 3.55% Senior Notes due January 15, 2015, in the aggregate principal amount of $885 million, which were issued by one of the company's majority-owned subsidiaries.