Cyfrowy Polsat secures credit for Telewizja Polsat acquisition

Polish cable operator Cyfrowy Polsat has secured credit from a consortium of banks to help with the acquisition of parent company Telewizja Polsat.

The operator has entered into loan agreements with various banks including Citibank, Royal Bank of Scotland, Bank Handlowy and Crédit Agricole CIB to the value of PLN3 billion (€747 million). The first agreement has been finalised for PLN1.4 billion of credit along with up to PLN200 million in revolving credit with a second amounting to PLN1.4 billion.

Cyfrowy Polsat is set to acquire Telewizja Polsat in a deal worth PLN3.75 billion.