HAMILTON, Bermuda, Sept. 4, 2012 (GLOBE NEWSWIRE) -- Central European Media Enterprises Ltd. ("CME" or the "Company") announced today that it plans to make a private placement of fixed rate senior notes in the aggregate principal amount of EUR 50.0 million (approximately US$ 62.8 million). The notes will have the same terms and be of the same series as the 11.625% senior notes due 2016 that the Company issued and sold on September 17, 2009 and September 29, 2009. The notes will be senior obligations of CME and will be guaranteed by two of the Company's wholly owned subsidiaries. There can be no assurance that the proposed offering will be completed. The Company expects to use the net proceeds of the offering to repay its 3.50% senior convertible notes due 2013 in full at maturity by irrevocably depositing into escrow US$ 20.6 million aggregate principal amount of such notes, plus accrued interest from September 15, 2012 through the maturity date, as well as to optionally redeem a portion of its outstanding senior floating rate notes due 2014.
CONTACT: Romana Wyllie Vice President of Corporate Communications Central European Media Enterprises Krizeneckeho nam. 1078/5 152 00 Praha 5 Czech Republic +420 242 465 525 firstname.lastname@example.org