TNBiz (TNBiz)
Markets  |  August 13, 2012 10:45:06

The owner of TV Nova will issue bonds worth more than 1.76 billion crowns


PRAGUE (MEDIAFAX) - Media group Central European Media Enterpises (CETV) announced today that its subsidiary, CET 21, which operates on the Czech market for TV Nova, outside the stock market wants to get 70 million euros (1.763 billion dollars) thanks to a five-year maturity bonds. On Monday, informing Patria.cz server.

"CET 21 is planning to issue senior secured private debt at a rate totaling 70 million euros," said parent CME Group. Terms of bonds shall be consistent with the issue of senior bonds issued by CET 21 in October 2010 with a coupon at nine percent.

Media CET 21 in its official statements plans to use proceeds from the private issuance for the full repayment of the loan worth 1.5 billion. This goal is the total yield by CME to cut about 59.5 million euros (1.5 billion).The rest (about 250 million) have subsequently found use for other needs of CET 21

CET 21, the Czech and Slovak media company owns the license for the television channel TV Nova, Nova Cinema, Nova Sport and MTV Czech. The Slovak Markiza TV broadcasts and TV at home. The company, which is wholly owned by CME Group, the matrix management structure, which means that the individual components within the company nearly independent units.

President and CEO of CME Adrian Sarbu was from July 2010 until mid-April this year, managing director of CET 21 On 18 April 2012 but from the post along with Oliver Martin Meister left. CET 21 new directors became executive vice president Anthony Chhoy CME and TV Nova CEO John Andruško.The third remained director David Andrew Sturgeon, who acts as deputy financial director of CETV.

Jan Soukup, soukupj@mediafax.cz

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