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NBCUniversal Announces Plans for a Consent Solicitation and Offer to Guarantee Universal Orlando's Public Debt

07/01/11

NBCUniversal Announces Plans for a Consent Solicitation and Offer to Guarantee Universal Orlando's Public Debt 8.8 KB

NEW YORK--(BUSINESS WIRE)--NBCUniversal announced today that it expects to launch a consent solicitation and offer to guarantee the 8.875% Senior Notes due November 15, 2015 (CUSIP No. 913405AE6) (the "Senior Notes") and the 10.875% Senior Subordinated Notes due November 15, 2016 (CUSIP No. 913405AG1) (the "Senior Subordinated Notes") jointly issued by Universal City Development Partners, Ltd. and UCDP Finance, Inc.

NBCUniversal expects to offer to fully and unconditionally guarantee the Senior Notes and the Senior Subordinated Notes in return for the consent of the holders to amendments to the terms of the Senior Notes and the Senior Subordinated Notes to conform the covenants and events of default to those contained in NBCUniversal's $9.1 billion of outstanding debt securities. If NBCUniversal receives the requisite consents, then upon issuance of the guarantees, the Senior Notes and Senior Subordinated Notes will effectively be pari passu with NBCUniversal's outstanding debt securities. The amendments will be made and the guarantees will be provided only if, by the expiration date, consents to the amendments have been validly submitted and not withdrawn by holders of record of more than 50% of the principal amount of both the Senior Notes and the Senior Subordinated Notes.

This press release does not constitute an offer of the guarantees. The consent solicitation and offer to guarantee the Senior Notes and the Senior Subordinated Notes will be made by means of a prospectus contained in a registration statement NBCUniversal expects to file with the Securities and Exchange Commission and the guarantees may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

NBCUniversal
Kathy Kelly-Brown, 212-664-3457
Kathy.Kelly-Brown@nbcuni.com