Central European Media gets €100 million revolver

By Sara Rosenberg

New York, July 27 - Central European Media Enterprises Ltd. closed on a new €100 million revolving credit facility due May 10, 2011, according to an 8-K filed with the Securities and Exchange Commission Thursday.

European Bank for Reconstruction and Development acted as the lead bank on the deal.

The facility carries an interest rate of Euribor plus 275 basis points.

Amortization is 7.5% every six months from May 2008 to November 2009, then 15% in May 2010 and November 2010, and 40% in May 2011.

Borrowings under the facility, which closed July 21, will be used for certain specified projects in Central and Eastern Europe.

Central European Media is a Hamilton, Bermuda-based investor, developer and operator of national commercial television channels and stations in Central and Eastern Europe.

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