ProSiebenSat.1 extends its Senior Facilities Agreement

Unterföhring, May 30, 2022. ProSiebenSat.1 Group has extended the tenors for its term loan and revolving credit facilities within its existing Senior Facilities Agreement.  This comprises an extension of EUR 400 million of term loan to April 2025 and of EUR 800 million of term loan to April 2027. The RCF has been extended in an amount of EUR 500 million to April 2027, reflecting lower needs as a consequence of the Group’s strict and consistent cash flow management. The April 2025 term loan can be further extended to up to April 2027 by way of exercise of two extension options.  Before the extension, ProSiebenSat.1 had a term loan with a nominal amount of EUR 1,200 million and a RCF with an amount of EUR 750 million. The majority of the credit facilities had a maturity in April 2024. The lending syndicate comprises nine core long-standing relationship banks.  Ralf Peter Gierig, Group CFO ProSiebenSat.1 Media SE: “The extension of our senior facilities is another proof point for our active finance management and our focus on solid finances. Terms and conditions underlying the extension, including interest margin levels, continue to reflect our implicit investment grade status, as they did before. This underscores our high standing in the debt capital markets and the trusted relationship with our core lending banks.” The extension follows measures taken in 2021: the early redemption of a bond, the issuance of new promissory loans and subsequent repayment of term loan. ProSiebenSat.1’s financial policy includes a target leverage ratio of 1.5x to 2.5x net financial debt to the Group’s LTM adjusted EBITDA. In the post COVID-19 period, the Company managed to bring back its leverage firmly within this target range through a strict focus on profitability and cash flow management. As per March 31, 2022, the Company reported a financial leverage of 2.1x.