01-06-2008

TVN plans bond issue

Written by FNE Staff

TVN plans to issue 1 billion zlotys (€297 million) to pay for the purchase of digital TV channel ‘n.' According to Thompson Financial News, TVN will sell the bonds by the end of June.

Reuters reported that some of the funds raised will be used to retire earlier debt. TVN has performed disappointingly since announcing the agreement to purchase ‘n', with shares dropping by 14%. The stock price reached a low of €5.44 on May 30.