ProSiebenSat.1 Media AG successfully completes comprehensive refinancing comprised of bond and bank market components

Issuance of a seven year bond with a volume of EUR 600 million

New facilities agreement, comprising of a term loan of EUR 1.4 billion and a revolving credit facility of EUR 600 million, each with a term of five years

Improvement in financing costs and cash flow thanks to more favorable conditions

Munich, April 16, 2014. ProSiebenSat.1 Media AG, the parent entity of the ProSiebenSat.1 Group, today successfully completed a comprehensive refinancing of its debt facilities. As part of the refinancing, the company issued seven year senior unsecured notes due in April 2021 in an amount of EUR 600 million. The notes bear interest of 2.625 % per annum. Furthermore, the company entered into a new EUR 2.0 billion senior unsecured syndicated facilities agreement with maturity in April 2019. The new facilities agreement is comprised of a EUR 1.4 billion five year senior unsecured bullet term loan and a five year senior unsecured revolving credit facility (RCF) in the amount of EUR 600 million. The proceeds of the notes and the new term loan were used to refinance and replace in full the senior secured bullet term debt in the amount of EUR 1.86 billion (with maturity in July 2018). The new term loan will also be used for general corporate purposes. The new RCF with maturity in April 2019 replaces the undrawn existing RCF with maturity in July 2018. Axel Salzmann, CFO of ProSiebenSat.1 Group: "Against the backdrop of the positive development of ProSiebenSat.1 during the last years, our excellent capital market standing and the positive and receptive market environment, the issuance of the notes and the new syndicated facilities agreement allows ProSiebenSat.1 to implement a further improved financing structure. We have diversified our funding base and implemented a further extended and staggered maturity profile at improved pricing and documentation terms. The attractiveness of ProSiebenSat.1 to investors is underpinned by the fact that both the bond and the new syndicated facilities agreement were significantly oversubscribed."

Following completion of the refinancing, the new pricing terms will yield an improvement in financing costs and cash flows (before tax) of around EUR 50 million over a four year period. Contact:
Julian Geist
Corporate Spokesman ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Phone +49 [89] 95 07-1151
Fax +49 [89] 95 07-91151 E-mail:
Julian.Geist@ProSiebenSat1.com

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