ITV repays significant proportion of 2019 loan

RNS Number : 3877Z

ITV PLC

06 March 2013

 



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

 

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