Central European Media Enterprises Ltd. (CME, www.cetv-net.com ) has been awarded the Treasury Today Adam Smith Award for Best Practice and Innovation 2011 in the Best Corporate Debt Solution category.
The award recognizes the best practice and innovation of the CME management team in extending the maturity profile of its corporate debt by privately exchanging US$206m of debt maturing in 2013 for debt maturing in 2015.
Treasury Today is the leading provider of treasury information to the corporate market and publishes treasurytoday magazine.
David Sach, Chief Financial Officer commented: "We are thrilled to be accepting the Treasury Today award, which acknowledges the success and efficiency of our private exchange deal in extending our maturity profile. The award gives deserved recognition to the strength of our treasury and investor relations teams, who worked together to accomplish this."
Richard Parkinson, Managing Director of Treasury Today said: "The judging criteria for these Awards is tough and the competition is extremely strong. Winning entries need to demonstrate tangible results in the form of cost savings and above average ROI, through to exceptional implementation and quantitative improvements in efficiency. To win an Award is therefore a significant accolade for CME."
CME owns and operates television stations in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action and Ring.bg), Croatia (Nova TV, Doma and Nova World), the Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, PRO TV Chisinau, Sport.ro and MTV Romania), the Slovak Republic (TV Markíza and Doma) and Slovenia (POP TV, Kanal A and POP Brio). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".