Results of tender offers to buy back notes

Tue 26 Jun 2012
RNS Number : 1826G ITV PLC 26 June 2012  

ITV plc - Results of Tender Offers to Buy Back certain 2014, 2015 and 2017 Notes

ITV plc today announced the results of the tender offer made on 18th June to buy back certain ITV notes.   

ITV has bought back notes with a nominal value of approximately £275m with a total cash cost before accrued interest of approximately £310m. 

ITV expects that the acquisition of this debt will reduce ITV's net adjusted financing costs by around £18m on a full year basis.

Ian Griffiths, ITV's Group Finance Director, said:

'These buy-backs are consistent with our aim to increase the efficiency of our balance sheet and to maintain our focus on costs and cash.  Since October 2009 we have repurchased debt with a total nominal value of £937m.'

NOTES TO EDITORS 

1. ITV has bought back the following notes with a total nominal value of approximately £275m:

Notes

Nominal amount purchased

€187,873,000 10.00 per cent. Notes due 2014 (ISIN: XS0437125197)

€137.742m

£425,000,000 Series 2005-1 5.375 per cent. Notes due 2015 (ISIN: XS0232037233)

£74.858m

£250,000,000 Series 2006-1 6.125 per cent. Notes due 2017 (ISIN: XS0269885785)

£89.387m

2. Lloyds TSB Bank plc and The Royal Bank of Scotland plc acted as Dealer Managers for the tender.

3. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale or purchase of securities in any jurisdiction where such sale or purchase is unlawful.

 

For further enquiries please contact: 

Investor Relations

Pippa Foulds                             020 7157 6555 or 07778 031097

Media Relations

Mary Fagan                               020 7157 3965 or 07736 786448

Treasury

Charles Van Der Welle               020 7157 6567

 

 

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