6 March 2013
ITV repays significant proportion of 2019 bilateral loan
ITV plc has today announced that it has repaid £138m of its £200m 2019 bilateral loan. Total savings in adjusted financing costs are expected to be around £50m over the remainder of the loan - around £9m on an annualised basis, and will result in an exceptional loss of £38m. The repayment of the loan has been satisfied by a one off £30m cash payment and the transfer of the gilts, which are currently the collateral for the loan.
Ian Griffiths, ITV's Group Finance Director, said:
'This repayment is consistent with our aim to increase the efficiency of our balance sheet and to make the best use of our cash."
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
This information is provided by RNS