Czech Republic's Central European Media to sell €150 million notes

By Paul A. Harris

St. Louis, Sept. 8 - Central European Media Ltd. started a roadshow in London on Tuesday for a €150 million offering of seven-year senior secured notes (expected ratings B2/B), according to a market source.

The deal is expected to price later this week.

Deutsche Bank Securities, Bank of America Merrill Lynch and BNP Paribas are joint bookrunners for the Rule 144A and Regulation S offering.

The notes come with four years of call protection.

Proceeds will be used to repay the €127.5 million loan agreements with the European Bank for Reconstruction and Development, as well as to repurchase a portion of the 8¼% senior notes due 2012 or repay other debt.

The media company is based in the Czech Republic.

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