Poland’s Cyfrowy Polsat has secured credit totalling PLN3 billion (€717 million) from a consortium of banks.
According to Wirtualne Media, it will be used to refinance a number of debts, including those sustained by the acquisition of Polkomtel.
Under the terms of the credit agreement, Cyfrowy Polsat will receive maximum loan of PLN2.5 billion, with a revolving credit facility of up to PLN500 million.
Commenting on the credit, Dominik Libicki, the president of Cyfrowy Polsat, said it would allow the Polkomtel deal, which was signed in November 2013, to be closed in Q2 this year.
The consortium of banks providing the credit is led by ING Bank Slaski, PKO Bank Polski and Societe Generale Corporate and Investment Banking.