Promotora de Informaciones, S.A. (PRISA) hereby communicates the following significant information, in connection with the information communicated on 14 June 2013 (with register number 189134).
In relation with the restructuring of its financial debt, PRISA hereby communicates that it has reached an agreement with the majority of the institutional investors that acquired debt in the secondary market and have become lenders under the syndicated banking debt of the company and which represent 11% of the Group’s debt as well as with the Group’s main financing banks which represent 73% of such debt. This agreement contains certain amendments to the original refinancing proposal of the company which was presented on 14 June 2013 to all creditors of the Group. By virtue of those agreements, the new refinancing plan counts already with the support of 84% of the Group’s creditors.
Pursuant to this agreement and subject to conditions precedent usual for these types of transactions, the said institutional investors have agreed to provide an additional credit facility to the company to cover for the medium term financing needs of the Group.
The institutional investors party to said agreement and the company have entered into a lock-up agreement pursuant to which they undertake to take all necessary steps to achieve full implementation of this agreement.
This new agreement will now be communicated to the remaining financial creditors of the Group and, should it obtain the same level of support as the original proposal had until today’s date, the restructuring plan of the Group’s debt would have the support of over 95% of the holders of the total debt of the Group.
Without prejudice to the foregoing this process is still subject to certain risks given its complexity. Therefore, the finalisation of the relevant agreements and documents and its signing and effectiveness