Central European Media Enterprises Closes Successful Offering of $475 Million of Convertible Notes Secures Financing for Ambitious Growth Plans in a Period of Grave Financial Uncertainty in the Global Capital Markets

10.03.08 - 18:11 ... source : CME

... March 10, 2008, Hamilton, Bermuda -Purchase of call spread option is expected to eliminate any dilution until share price exceeds $151.20 at a cost of capital below current debt - Hamilton, Bermuda - March 10, 2008 - Central European Media Enterprises Ltd.("CME") (Nasdaq/Prague Stock Exchange: CETV) today announced the closing of its offering of $475 million of senior convertible notes. The notes were sold to qualified institutional buyers and bear interest at an annual rate of 3.50%. The notes pay interest semi-annually on March 15 and September 15 of each year, beginning September 15, 2008, and mature on March 15, 2013. Michael Garin, CEO of CME, commented: "At a time when financing window after financing window appears to be closing and could possibly remain ...» Next (HTML)