HAMILTON, Bermuda, Feb. 11, 2011 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME") (Nasdaq:CETV) (Prague Stock Exchange:CETV) today announced its agreement to repurchase, in privately negotiated transactions, approximately $206 million aggregate principal amount of its 3.50% senior convertible notes due 2013 (the "2013 notes"). In exchange for their 2013 notes, holders will receive approximately $206 million aggregate principal amount of 5.0% senior convertible notes due 2015 (the "new notes"). Accrued interest on the 2013 notes, cash consideration to holders and fees and expenses incurred by the Company in connection with this exchange will be approximately $30 million. The exchange is being conducted pursuant to Section 3(a)(9) of the U.S. Securities Act of 1933, as amended (the "Securities Act"). Consummation of these transactions is subject to the effectiveness of CME's application with the U.S. Securities and Exchange Commission for the qualification of the indenture governing the new notes.
Central European Media Enterprises Ltd. Announces An Exchange Of Senior Convertible Notes Due 2013 For Senior Convertible Notes Due 2015
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