The Management Board of Cyfrowy Polsat S.A. ('the Company') hereby informs that on September 10, 2013 the Company partly prepaid the Term Facility Loan in the amount of PLN 100 million (one hundred million zlotys), which comprised: mandatory prepayment (resulting from the provisions of the term loan agreement) being the sum of proceeds from disposal of RS TV S.A. (on which the Company informed in the current report no. 15/2013 dated August 30, 2013) and voluntary prepayment.
The Term Facility Loan was granted to the Company on March 31, 2011 by the syndicate of Polish and international banks, which was disclosed by the Company in the current report no. 11/2011 of March 31, 2011, and it totaled to PLN 1,400 million. The above-mentioned prepayment does not affect any provisions of the term loan agreement. The final facility repayment date is December 31, 2015. As of June 30, 2013, the total Term Loan liability amounted to PLN 686 million, and net debt/EBITDA ratio was 1.90x.
The Management Board considers this information significant as the reduction of the debt will have a positive impact on the Company's future results through proportional decrease in further principal payments and accrued interests.
Legal grounds: Article 56 Section 1 item 1 of the Act on public offering and the terms for introduction of financial instruments to organized trading and on public companies, dated 29 July 2005.
current-report-16-2013.pdf 11.49 KB
