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ProSiebenSat.1 uses proceeds of new EUR 700 million Schuldscheindarlehen for a EUR 900 million prepayment of Term Loans

Unterföhring, October 8, 2021. Today, ProSiebenSat.1 Media SE prepaid EUR 900 million of its existing term loans under its Senior Facilities Agreement. The Group’s term loans thus reduced from EUR 2.1 billion to now EUR 1.2 billion mostly maturing in April 2024.

Primarily all of the proceeds of a new Schuldscheindarlehen (promissory loan) offering, in the amount of EUR 700 million with tenors of four, six, eight and ten years and which successfully closed at the beginning of October, were used for this purpose. Initially, the Schuldschein was announced and marketed at EUR 300 million.

The volume-weighted tenor of the new promissory loan offering over the four tenors is c. 5.9 years. The offering is split into four fixed rate and three floating rate tranches with the fixed rate tranches totaling c. EUR 403 million (average weighted tenor: c. 6.1 years) and the floating rate tranches totaling c. EUR 297 million (average weighted tenor: c. 5.5 years). The volume-weighted yield for the four fixed-rate tranches is c. 0.92% per annum. The three floating rate tranches are at Euribor money market rates but floored at 0% plus a volume-weighted spread of c. 0.85% per annum.

With this refinancing, the Group took advantage of the currently attractive conditions in the debt capital market, secured attractive interest rates, and has further extended and diversified its debt maturity profile. Arrangers to this transaction were DZ BANK, Landesbank Baden-Wuerttemberg (LBBW) and UniCredit.

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