Last checked at 6 Mar 2013 13:29
6 March 2013
ITV repays significant proportion of 2019 bilateral loan
ITV plc has today announced that it has repaid £138m of its £200m 2019 bilateral loan. Total savings in adjusted financing costs are expected to be around £50m over the remainder of the loan - around £9m on an annualised basis, and will result in an exceptional loss of £38m. The repayment of the loan has been satisfied by a one off £30m cash payment and the transfer of the gilts, which are currently the collateral for the loan.
Ian Griffiths, ITV's Group Finance Director, said:
'This repayment is consistent with our aim to increase the efficiency of our balance sheet and to make the best use of our cash."
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