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| CETV > SEC Filings for CETV > Form 8-K on 11-Sep-2009 | All Recent SEC Filings |
11-Sep-2009
Entry into a Material Definitive Agreement, Other Events,
On September 10, 2009, Central European Media Enterprises Ltd. (the "Company") and its wholly owned subsidiaries Central European Media Enterprises N.V. ("CME NV") and CME Media Enterprises B.V. ("CME BV") entered into a purchase agreement with certain initial purchasers providing for the issuance and sale by the Company of €200.0 million 11.625% Senior Notes due 2016 (the "Note Offering"). The notes will be sold to investors at a purchase price equal to 98.261% of their face amount. The obligations of the Company are to be secured by guarantees issued by CME NV and CME BV, pledges of the shares of CME NV and CME BV as well as the assignment of certain contractual rights of the Company and CME BV. The proceeds of the Note Offering are to be applied towards repayment to the European Bank for Reconstruction and Development ("EBRD") of the outstanding principal amount of €127.5 million owed under the Company's loan agreements with EBRD, as well as the repurchase of €63.2 million in aggregate principal amount of the Company's outstanding 8.25% Senior Notes due 2012 pursuant to the tender offer described in Item 8.01 below. A copy of the press release relating to the Note Offering is attached hereto as Exhibit 99.1.
On September 11, 2009, the Company announced the final results of its previously
announced tender offer launched on September 7, 2009 to repurchase for cash a
portion of its 8.25% Senior Notes due 2012 (ISIN:XS0218213816 (Regulation
S). The tender offer was open to non-U.S. holders only and expired at 4:00 p.m.
London time on September 10, 2009. The Company has accepted for repurchase valid
tenders of notes totaling €63.2 million in aggregate principal amount at a
purchase price of €970 per €1,000 principal amount of notes. Settlement is
expected to occur on September 21, 2009. The notes repurchased in the offer will
be cancelled. A copy of the press release relating to the tender offer is
attached hereto as Exhibit 99.2.
Exhibits:
99.1 Press release of Central European Media Enterprises Ltd., dated September 11, 2009.
99.2 Press release of Central European Media Enterprises Ltd., dated September 11, 2009.
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