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TVN to issue bonds

FNE Staff 2009-11-08
Polish commercial TV station TVN will issue 588 million euros in bonds, according to a November 5 statement.

Reuters news agency said the bonds will be issued to cover the cost of the station's purchase of an addition 49% of the satellite platform 'n', giving it 100% ownership, as well as to refinance TVN's own debt.

TVN projects break-even in 2011. The bonds will have a 10-13 year maturity.

Investors and experts reacted negatively to the news.

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