Poland’s ITI Holdings has renegotiated a €320 million credit line, on which it will now pay a higher interest rate.
The facility was first granted to ITI, whose interests include a 52% stake in the national commercial broadcaster TVN, in November 2007 by a syndicate of lenders.
It matures in November 2012, and the higher rate has been applied to the fall of the Polish zloty against the euro.
ITI has stressed that TVN is neither a borrower nor a party to the facility.
