The BBC has raised £170 million (€199.50 million) in a seven-year US bond deal in the first time it has turned to the financial markets.
The cash, raised from a group of eight unnamed investors, will be used to finance BBC Worldwide, funding new content at the BBC’s commercial arm and will replace some of the BBC’s bank debt as it reportedly looks for longer-term funding.
A BBC spokesperson confirmed the funding, saying: “This is an excellent deal for BBC Commercial Holdings which provides a core of longer term debt at very low cost.
“In addition it establishes a new source of funding for the business, which sits alongside the bank debt, with a high quality group of Investors. The level of investor demand and final pricing reflects the underlying credit quality and strength of the BBC and its commercial businesses.”
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