Central European Media plans to call 8¼% notes via placement proceeds

By Jennifer Chiou

New York, Sept. 23 - Central European Media Enterprises Ltd. announced that it intends to redeem all €181.8 million of its 8¼% senior notes due 2012 using the proceeds from a €200 million private placement of fixed-rate senior notes.

On Sept. 11, the company accepted tenders for €63.2 million of the notes in an offer that ended at 11 a.m. ET on Sept. 10.

For each €1,000 principal amount, the company paid €970 plus accrued interest to Sept. 21, the settlement date.

Hamilton, Bermuda-based Central European Media invests in, develops and operates commercial television channels in Central and Eastern Europe.

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