REG - ITV PLC - ITV plc announces Eur500 million Euro Bond issue <Origin Href="QuoteRef">ITV.L</Origin>

ITVAnnouncement

24/11/2016 16:10

RNS Number : 1130Q
ITV PLC
24 November 2016
24 November 2016
ITV plc announces 500 million Euro Bond issue
ITV plc ("ITV") today announced that it has issued a 7 year 500 million Euro Bond at a fixed coupon of 2.0%. The bond will be swapped back to sterling, with an effective fixed interest rate of around 3.5%. It is expected the issue will close and settle on 1 December 2016 and will mature on 1 December 2023.
The proceeds of the bond are for general corporate purposes including the repayment of the 161 million Sterling bond which matures in January 2017 and the payment of the first tranche of the Talpa Media earnout in 2017.
Ian Griffiths, Group Finance Director of ITV, said:
"We are pleased to have 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."
For further enquiries please contact:
Treasury
Jonathan Logan Tel:+44 20 7157 6576or+44 7766 465 405
Investor Relations
Pippa Foulds Tel:+44 20 7157 6555or+44 7778 031 097
Media Relations
Mary Fagan Tel:+44 20 7157 3965or+44 7736 786 448
Mike Large Tel:+44 20 7157 3021or+44 7768 261 528

This information is provided by RNS
The company news service from the London Stock Exchange
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