RM-SYSTÉM»Události»CME announces the pricing of the offering of EUR 104.0 million 11.625% senior notes due 2016

CME announces the pricing of the offering of EUR 104.0 million 11.625% senior notes due 2016

05.09.2012 16:32
Central European Media Enterprises Ltd. (“CME” or the “Company”) (Nasdaq Global Select Market/Prague Stock Exchange: CETV) announced the pricing yesterday of its offering of fixed rate senior notes in the aggregate principal amount of EUR 104.0million (approximately US$ 130.7 million) due in 2016. 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 on September 17, 2009 and September 29, 2009. The notes will be sold to investors at a purchase price equal to 103% of the principal amount, plus accrued interest from March 15, 2012, will pay interest semi-annually at a rate of 11.625% per year and will mature on September 15, 2016.

The notes will be senior obligations of CME and will rank equally in right of payment with its existing and future senior debt. The notes will be jointly and severally guaranteed on a senior basis by two of CME's wholly owned subsidiaries. The notes will be secured by a security interest in the shares of the two subsidiary guarantors of CME. The sale of the notes is expected to close on September 7, 2012.

The Company will use approximately EUR 16.7 million (approximately US$ 21.0 million) of the net proceeds from the offering to irrevocably deposit in escrow US$ 21.0 million, consisting of US$ 20.6 million aggregate principal amount of 3.50% senior convertible notes due 2013 plus accrued interest of approximately US$ 0.4 million for the final interest payment for the period from September 15, 2012 to the maturity on March 15, 2013, for the payment in full of the 3.50% senior convertible notes at maturity, and the remaining net proceeds of approximately EUR 88.1million (approximately US$ 110.8 million) tooptionally redeem and cancel EUR87.5 million (approximately US$ 110.2 million) aggregate principal amount of the Company's outstanding senior floating rate notes due 2014 plus accrued interest to the redemption date.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offer of the securities will be made only by means of an offering memorandum. 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.

RM-SYSTÉM, česká burza cenných papírů a.s.

Další zprávy