The management boards of Cyfrowy Polsat and Polkomtel (a subsidiary of Cyfrowy Polsat) have decided to partially repay their term loan early, resulting in interest savings of approximately PLN 30 million. The total prepayment amounts to almost PLN 700 million, reducing the debt under the loan agreement with financial institutions to just over PLN 6.2 billion, with a further repayment schedule until 2028. The prepayment was made possible by the sale of Asseco shares.
These decisions align with the Management Board's objectives of optimizing the disposal of the company's assets in the most effective manner possible, while protecting the company's total assets. The decision will positively impact cash flow and reduce debt financing costs, which will decrease by approximately PLN 30 million due to interest savings. Both the sale of Asseco shares and the resulting loan prepayment will contribute to an even more stable financial situation for the entire Polsat Plus Group.
Detailed information was provided by the Management Board in a current report published today, which specified that, in accordance with the procedure, on 14 February 2025, Cyfrowy Polsat and Polkomtel submitted irrevocable instructions to the agreement agent to initiate the procedure for partial early repayment of the term loan, granted under the Senior Facilities Agreement dated 28 April 2023. This agreement was concluded among others by the Company and Polkomtel (as borrowers) and a consortium of financial institutions, as reported by the Company in its current report no. 8/2023 of 28 April 2023 (the “Facilities Agreement”). The early repayment in the amount of PLN 681.4 million, increased by accrued interest is scheduled for 21 February 2025. As a result of the above early repayment, the total principal amount of the Company's and Polkomtel’s debt from the Facilities Agreement will be PLN 6,263.1 million, with a repayment schedule until 2028.
