Cyfrowy Polsat media inks PLN 3 billion credit deal
April 14, 2014
Media group Polsat signed a PLN 3 billion debt refinancing deal with a consortium of Polish and international banks, and will eye closing merger with Polkomtel in Q2, the company said in a market filing and a press statement.
The company will get up to PLN 2.5 billion in term facility loan and PLN 0.5 billion in revolving loan, the company said.
Signing the deal was one of the conditions for merger between Cyfrowy Polsat and Metelem, a company controlling mobile telco Polkomtel, and Cyfrowy Polsat eyes closing the transaction in Q2, according to a press statement.
The loans will be used to pay back debt tied to Senior Facilities Agreement signed in 2011 and Senior Secured Notes, also issued in 2011.