Debt financing and financing structure
The ProSiebenSat.1 Group uses various external financing instruments. In addition to secured term loans ProSiebenSat.1 also has access to a revolving credit facility (RCF).
In the second quarter of 2013, the ProSiebenSat.1 Group prepaid loans and borrowings and simultaneously extended part of its term loans expiring in July 2015 and July 2016 respectively (Term Loan C and D) to 2018. Due to the repayment totaling EUR 500.0 million, Term Loan B was settled in full, and Term Loans C and D were repaid and extended. Part of the proceeds from the sale of the Northern European TV and radio activities were used for the repayment. With the extension of maturities and repayment of loans, the Group further optimized its capital structure.
In addition to these term loans, the senior secured syndicated facilities agreement includes a revolving credit facility (RCF) which can be drawn in variable amounts. The available facility amount of the revolving credit facility currently totals EUR 590.0 million (originally EUR 600.0 million). At the end of May 2012, the ProSiebenSat.1 Group extended the majority of the credit facility to July 2016, issued as new RCF 2. The remaining facility amount (RCF 1) will continue to mature in July 2014. RCF 2 amounts to EUR 359.4 million as of March 31, 2013. RCF 1 is currently EUR 230.6 million.