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Broadcaster CME starts subscription period for rights offering
April 3, 2014 / 10:40 AM / 3 years ago

Broadcaster CME starts subscription period for rights offering

PRAGUE, April 3 (Reuters) - Central European Media Enterprises has started the subscription period that will run until April 25 for a fully-backstopped $341.8 million rights offering, the broadcaster said on Thursday.

The rights will entitle shareholders to senior secured notes due 2017 and warrants for shares.

The loss-making television broadcaster in February agreed a deal with its main shareholder Time Warner to raise new debt and issue share warrants to help cover the company’s financing needs.

Reporting by Jason Hovet; Writing by Robert Muller

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