Polish commercial broadcast group TVN has announced plans for a Â405m bond issue due in 2017, in part to finance the consolidation of pay-TV division ÂnÂ.
The company will use the proceeds to repay Â215m in existing bonds due in 2013, pay off a credit line and boost liquidity. TVN will issue a second tranche worth Â188m to pay its main shareholder ITI Group for the 49% stake in ÂnÂ that TVN does not already own.
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