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Technology Stocks : Primestar/TCI Satellite (TSATA) -- Ignore unavailable to you. Want to Upgrade?

To: Y-fall who wrote (343)	4/21/1999 9:56:00 AM
From: flickerful	Respond to of 442

Hughes, DirecTV Eye Money For Acquisitions Hughes Electronics is eyeing as much as $2 billion through the sale of common stock and debt to help finance pending acquisitions for its DirecTV unit, according to wire reports and regulatory filings. According to documents, Hughes said it expects to file with the Securities and Exchange Commission its intention to sell notes. General Motors, parent of Hughes Electronics, also expects to file with the SEC for the sale of Class H common shares, according to Bloomberg. The Class H stock tracks the company's earnings and performance. The combined offerings should raise between $1.5 billion and $2 billion, according to merger documents filed for the proposed purchase of U.S. Satellite Broadcasting. A "significant portion" of those proceeds will be used to repay short term loans, known as bridge financing, used to pay for acquisitions. DirecTV and Hughes could soon close on their deals to buy USSB and PrimeStar. The companies need only shareholder approval for its $1.3 billion USSB purchase after getting federal government Oks earlier in the year. PrimeStar is ready to file its annual report and close deals with bondholders, both of which could help DirecTV and Hughes with their $1.83 billion purchase of the company. skyreport.com