€600MN Euro Bond issue pays off ITV's Talpa Media acquisition


Details

Joseph O'Halloran

| 13 September 2015





The UK's leading commercial broadcaster ITV has issued a seven year €600 million Euro Bond at a fixed coupon of 2.125% principally to repay the acquisition facility agreed as it acquired Talpa Media.


Sources suggest that the issue will close and settle on 21 September, 2015 and will mature on 21 September 2022.
Talpa, founded by Big Brother creator John de Mol, was acquired in March by ITV in a £355 million deal . The company's most current prized asset is The Voice which has seen global success.

"We are pleased to have refinanced the acquisition of Talpa and secured finance over the medium term at attractive rates," said Ian Griffiths, Group Finance Director of ITV, commenting on the bond issue. "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."