ProSiebenSat.1 reduces term loans by EUR 1.2bn
Munich, August 3, 2011.
ProSiebenSat.1 Media AG has successfully completed the amendment
and extension of its debt facilities. The ProSiebenSat.1 Group's
lenders have agreed to partial extend the maturity of the term
loans from July 2014 and July 2015 to July 2016 in the amount of
EUR 2.1bn. At the same time ProSiebenSat.1 will use EUR 1.2bn of
proceeds from the recently completed disposals of its Belgian and
Dutch assets for the partial prepayment of its existing term debt.
The repayment will take place in August. Total term loans post
repayment will amount to EUR 2.4bn.
Axel Salzmann, CFO of the ProSiebenSat.1 Group commented: "I am
very satisfied with the strong support our amendment and extension
offer has received among our lenders. This underpins the good
standing of ProSiebenSat.1 Group in the capital markets. With the
successful completion of the proposed amendments we are pursuing
our policy of proactively managing our capital structure. The
repayments will result in a significant immediate reduction of our
term debt and interest expense, while the extension will further
improve the company's maturity profile."
Contact:
Julian Geist
Corporate Communications
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Phone. +49 [89] 95 07-11 51
Fax +49 [89] 95 07-911 51
E-mail:
Julian.Geist@ProSiebenSat1.com
Katrin Schneider
Corporate Communication
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Phone. +49 [89] 95 07-11 64
Fax +49 [89] 95 07-911 64
E-mail:
Katrin.Schneider@ProSiebenSat1.com
Press release:
www.ProSiebenSat1.com