January 25, 2018 / 3:30 PM / 6 months ago

BRIEF-Prisa Looks To Raise 563.2 Mln Euros Via Rights Issue

Jan 25 (Reuters) - Promotora De Informaciones Sa: Bookrunner:

* ANNOUNCES RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF ABOUT 563.2 MILLION EUROS‍​

* TO ISSUE 53 NEW SHARES TO 10 EXISTING SHARES AND OFFER A TOTAL OF 469.35 MILLION SHARES

* THEORETICAL EX RIGHTS PRICE AT 1.404 EUROS

* OFFER AT 14.51 PERCENT DISCOUNT BASED ON CLOSE PRICE ON JAN 24 OF 2.48 EUROS

* 450 MILLION EUROS OF PROCEEDS WILL BE USED TO PAY DOWN DEBT WITH REMAINING USED FOR DEVELOPMENT OF CORE BUSINESS

* 180 DAYS LOCK UP PERIOD FOR THE COMPANY AND MORGAN STANLEY, BANCO DE SANTANDER ACTING AS GLOBAL COORDINATORS Further company coverage:

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