TVN returns with bond refi plans after March postponement

Polish broadcaster TVN has returned to the market to partly refinance its €593m 2017s, which are callable in November, after a failed attempt to do so in March. The rest of the note will be refinanced with cash. The operator of 10 television channels is planning to print €430m of 2020 notes on Friday.

  • By Stefanie Linhardt
  • 05 Sep 2013

An investor lunch took place in London at 12.30pm on Thursday (September 5). JP Morgan is billing and delivering, with Deutsche Bank, Nomura and BNP Paribas also bookrunning the unsecured bond.

"This offering is a part of TVN’s broader strategy to optimise its overall capital structure, lower its finance costs ...

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1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%