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DIRECTV To Exchange $1.4Bln Of 8 3/8% Senior Notes Due March 15 - Update

(RealTimeTraders.com) - On Friday, DIRECTV Holdings LLC, unit of Hughes Electronics Corp. (GMH) announced that they have begun an offer to exchange an aggregate principal amount of up to $1.4 billion of DIRECTV's newly issued 8 3/8% Senior Notes due March 15, 2013.

DIRECTV said that it would accept for exchange any and all original notes validly tendered and not withdrawn prior to the expiration date.

GMH is currently trading at $14.30, down 14 cents on a volume of 424.9K shares.

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