ITV said it is expected the bond issue will close and settle September 21, and will mature on the same date in 2022.
ITV acquired Dutch media tycoon John De Mol Jrs production company Talpa Media, responsible for shows including The Voice, for an initial cash consideration of around EUR500 million in April, with a maximum consideration of up to EUR1.1 billion, funded from its existing cash resources and new debt facilities.
We are pleased to have refinanced the acquisition of Talpa and secured finance over the medium term at attractive rates. This is in line with our policy of running an efficient balance sheet and maintaining the flexibility to invest in the business for further growth, said Group Finance Director Ian Griffiths in a statement.
Shares in ITV were down 1.1% at 248.40 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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