Central European Media talks €200 million notes at 8%-8¼%, €150 million at Euribor +525-550 bps

By Paul A. Harris

St. Louis, April 27 - Price talk emerged Wednesday on Central European Media Enterprises Ltd.'s €350 million two-part offering of notes (B1/B+), according to a market source.

The company's €200 million offering of seven-year senior fixed-rate notes, which are non-callable for four years, is talked to yield 8% to 8¼%.

Meanwhile the €150 million offering of seven-year senior floating-rate notes, which are non-callable for six months, is talked at six-month Euribor plus 525 to 550 basis points.

Pricing is expected on Friday.

JP Morgan, Lehman Brothers and ING are joint bookrunners for the Rule 144A/Regulation S transaction.

Proceeds will be used to help fund the acquisition of a controlling interest in the TV Nova group, which owns and operates TV Nova in the Czech Republic.

The issuer is a Hamilton, Bermuda-registered media company.

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