23rd Sep 2019 12:24
(Alliance News) - Broadcasting firm ITV PLC said Monday it expects to repurchase debt worth EUR506.4 million after indicative results related to a tender offer launched earlier in September.
In mid-September, ITV launched a tender offer to buy around EUR500 million of its short-dated loan notes as the FTSE 100-listed media firm looked to extend the maturity of its debt.
On Monday, ITV announced indicative results from validly tendered notes will see it buy EUR265.3 million of its EUR600.0 million outstanding 2.125% notes due 2022 and EUR241.1 million of its EUR500.0 million outstanding 2.00% notes due 2023.
In 2018, ITV generated GBP567 million in pretax profit on revenue of GBP3.21 billion.
Pricing for the tender offer will be announced at 1400 BST on Monday.
Shares in ITV were 1.8% lower at 125.95 pence in London on Monday.
By Ahren Lester; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
ITV