ITV PLC — Capital/Financing Update 2016

Nov 24, 2016

National Storage Mechanism | Additional information

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RNS Number : 1130Q

ITV PLC

24 November 2016

24 November 2016

ITV plc announces €500 million Euro Bond issue 

ITV plc ("ITV") today announced that it has issued a 7 year €500 million Euro Bond at a fixed coupon of 2.0%. The bond will be swapped back to sterling, with an effective fixed interest rate of around 3.5%. It is expected the issue will close and settle on 1 December 2016 and will mature on 1 December 2023. 

The proceeds of the bond are for general corporate purposes including the repayment of the £161 million Sterling bond which matures in January 2017 and the payment of the first tranche of the Talpa Media earnout in 2017. 

Ian Griffiths, Group Finance Director of ITV, said:

"We are pleased to have secured finance over the medium term at attractive rates. 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." 

For further enquiries please contact:

Treasury

Jonathan Logan                                  Tel: +44 20 7157 6576 or +44 7766 465 405

Investor Relations

Pippa Foulds                                       Tel: +44 20 7157 6555 or +44 7778 031 097

Media Relations

Mary Fagan                                        Tel: +44 20 7157 3965 or +44 7736 786 448

Mike Large                                         Tel: +44 20 7157 3021 or +44 7768 261 528

This information is provided by RNS

The company news service from the London Stock Exchange

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