16th Jan 2014 14:25
LONDON (Alliance News) - ITV PLC said Thursday that it had agreed to repay the outstanding GBP64.2 million of its 2019 bilateral loan, with a one-off payment of GBP94.9 million, which includes a one-off loss of GBP30 million.
An ITV spokeswoman declined to provide the name of the lender.
The broadcaster said total savings in adjusted financing costs over the remainder of the loan are expected to be around GBP44 million, or GBP8 million on a yearly basis.
"This repayment is consistent with our aim to increase the efficiency of our balance sheet and to make the best use of our cash," said Finance Director Ian Griffiths in a statement.
Shares in ITV were trading down 1.70 pence, or 0.9%, at 207.90 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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