Multimedia sells PLN250 million of securities

11 Jun 2012

Polish cableco Multimedia Polska has sold PLN250 million (USD71.76 million) of five year bonds to refinance a bank loan, and fund acquisitions, reports Bloomberg. Of the amount raised, around PLN180 million will be used to repay the loan. The sale was managed by PKO Bank Polski and the main buyers of the securities were banks, pension and mutual funds. As reported by CommsUpdate, Multimedia reported an 8.2% year-on-year drop in net profits for the first quarter of 2012 as mounting operating expenses outweighed the cableco’s revenue growth.

Poland, Multimedia Polska