MEXICO CITY, May 21 (Reuters) - Mexican broadcaster Televisa said on Tuesday that it would issue $750 million in bonds maturing in 2049.
The company said in a statement that it would use the proceeds “for general corporate purposes, which may include repayment or repurchase of existing indebtedness.”
Shares of Televisa closed down 5.8 percent on Tuesday, their sharpest drop since February.
Televisa, the world’s biggest producer of Spanish-language content, saw its net profit fall 20 percent in the first quarter as Mexico’s new government spends less on advertising.
Reporting by Noe Torres and Julia Love; Editing by Sandra Maler