CME announces launch of an offering of 11.625% senior notes due 2016
Central European Media Enterprises Ltd. ("CME" or the "Company") announced today that it plans to make a private placement of fixed rate senior notes in the aggregate principal amount of EUR 50.0 million (approximately US$ 62.8 million). The notes will have the same terms and be of the same series as the 11.625% senior notes due 2016 that the Company issued and sold on September 17, 2009 and September 29, 2009. The notes will be senior obligations of CME and will be guaranteed by two of the Company's wholly owned subsidiaries. There can be no assurance that the proposed offering will be completed. The Company expects to use the net proceeds of the offering to repay its 3.50% senior convertible notes due 2013 in full at maturity by irrevocably depositing into escrow US$ 20.6 million aggregate principal amount of such notes, plus accrued interest from September 15, 2012 through the maturity date, as well as to optionally redeem a portion of its outstanding senior floating rate notes due 2014.
The senior notes will be offered only to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States under Regulation S under the Securities Act. The senior notes will not be registered under the Securities Act and may not be offered or sold in the U.S. or to U.S. persons absent registration or an applicable exemption from registration requirements. In relation to the United Kingdom, notes may not be offered or sold except in accordance with all applicable requirements of the Financial Services and Markets Act 2000 ("FSMA") and regulations passed under FSMA, or pursuant to an applicable exemption. In addition, the notes may not be offered in the United Kingdom or any other member state of the European Economic Area except in circumstances which do not require the publication by the Company of a prospectus pursuant to Article 3 of the EU Prospectus Directive (2003/71/EC), as amended.
For additional information, please contact:
Vice President of Corporate Communications
Central European Media Enterprises
Krizeneckeho nam. 1078/5
152 00 Praha 5
+420 242 465 525
RM-SYSTÉM, česká burza cenných papírů a.s.
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