Czech TV Novas owner CME plans EUR 50mn private placement.

By bne IntelliNews September 5, 2012
Central European Media Enterprises (CME) plans a EUR 50mn private placement of 11.625% senior notes due in 2016, the broadcaster said in a statement on its website. The notes will be offered only to selected institutional buyers. CME will use the proceeds of the offering to repay its 3.50% senior convertible notes due in 2013 as well as to redeem a portion of its outstanding senior floating rate notes due in 2014. CME, partly owned by Time Warner Inc., is a media and entertainment company operating leading broadcasting, content and new media businesses in six central and eastern European countries with an aggregate population of approximately 50 million people. In the Czech Republic, CME owns TV stations TV Nova, Nova Cinema, Nova Sport, Fanda and MTV Czech. CME is listed on the NASDAQ and the Prague Stock Exchange.

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