Mediapro refinances its debt with a syndicated loan of 306 million euros

With the refinancing operation, Mediapro has reduced the cost of its financing, gives entry to new financial entities, extends the maturity period to 5 years and makes its financing more flexible.

Mediapro has signed a syndicated loan worth 306 million with eight banking entities. The new financing, under better conditions, responds to the improvement in the group's risk situation once certain conflicts that generated certain uncertainties such as the so-called Football War that it had with PRISA were closed.

The dispute between Mediapro and PRISA over the League's televised rights was finally closed satisfactorily for the Catalan company, which did not have to face the significant compensation demanded.

With the refinancing operation, Mediapro has reduced the cost of its financing, entered into new financial entities, extended the maturity period to 5 years and made its financing more flexible, better reflecting the great progress that the Group has made in the last 12 months. The operation has also made it possible to cancel the syndicated loan for a value of 155 million euros signed a year ago and the financing operation through a derivative product for a value of 98.

The liquidity provided by this operation will allow Mediapro to continue its operational and geographical expansion. Caixa Bank, Banco de Santander, BBVA, Banco Popular, City, BNP, ICF and Banco de Sabadell have participated in the operation.

Mediapro closed the 2015 financial year with a turnover of 1,509 million euros, in line with its forecasts, and an EBITDA of 129 million (with an increase of 40% over the 90 million in 2014). For 2016, forecasts place EBITDA at approximately 170 million euros.