22-10-2013

TVN Group Refinances Debt

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WARSAW: TVN Finance Corporation II AB has repurchased its own Senior Notes bonds for 656m EUR as a means of refinancing the company's debt.

The nominal worth of the discontinued Senior Notes bonds is 593 million EUR and it was bought out by TVN Finance Corporation II AB (TVN Group dependent) prior to the their 2017 maturity date. "The bonds were bought at a price consisting of their nominal value increased by the bonus of a pre-term buyout (...) Their joint price was 656,475,534.38 EUR" TVN told FNE.

In 2012 the TVN Group had 783.6m PLN in income and and a loss of 73.7m PLN. The purchase of the bonds was financed from funds that the company received after selling 430 m EUR in other Senior Notes bonds introduced to the market on 16 September 2013 and from its sale of the Onet.pl portal in 2012.