ITV PLC — Capital/Financing Update 2013

Sep 11, 2013

National Storage Mechanism | Additional information

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RNS Number : 7258N

ITV PLC

11 September 2013

REGULATORY INFORMATION SERVICE ANNOUNCEMENT
11 September 2013 ITV plc (the "Issuer") £250,000,000 SERIES 2006-1 6.125 PER CENT. NOTES DUE 2017 (the "Notes")

The Issuer announces that a Step Down Rating Change has occurred in relation to the Notes, following the announcement by Moody's on 9 August 2013 that Moody's has upgraded the ratings on all of the Issuer's senior unsecured debt  to Baa3 from Ba1. The Issuer's senior unsecured debt is currently rated 'BBB-' by S&P. Accordingly, the Conditions of the Notes provide that with effect from and including the Fixed Interest Period commencing on the Interest Payment Date falling on 5 January 2014, the Rate of Interest payable on the Notes will decrease from 7.375 per cent. per annum to the Reset Rate of Interest. The Reset Rate of Interest is 6.125 per cent. per annum, being the Initial Rate of Interest.

Capitalised terms used in this Announcement and not otherwise defined herein shall have the meanings set out in the amended and restated principal trust deed (the "Trust Deed") dated 5 September 2005 between the Issuer, Carlton Communications Limited and The Law Debenture Trust Corporation p.l.c. and the Final Terms dated 29 September 2006 and relating to the Notes (the "Final Terms"). References in this Announcement to the Conditions (or to any particular numbered Condition) shall be to the conditions of the Notes as appended to Schedule 1 of the Trust Deed and as amended by the Final Terms.

For further information:

ITV plc

Investor Relations

Pippa Foulds                             020 7157 6555 or 07778 031097

Media Relations

Mary Fagan                               020 7157 3965 or 07736 786448

Treasury

Robin Thomas                         020 7157 6566                       

This information is provided by RNS

The company news service from the London Stock Exchange

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