The leading Polish DTH platform Cyfrowy Polsat has secured credit of PLN3 billion (€746.1 million) from a consortia of banks headed by Citibank, Bank Handlowy, Crédit Agricole CIB and The Royal Bank of Scotland to help it with the acquisition of its parent company Telewizja Polsat.
The first part is for PLN1.4 billion, plus a maximum of PLN200 million in revolving credit, with the second for a further PLN1.4 billion.
The credit will be paid off in quarterly instalments and at variable rates up to December 31, 2015.
Cyfrowy Polsat agreed to buy 100% of Telewizja Polsat in a deal worth PLN3.75 billion last November.