Mediapro completes the refinancing of its debt

The group Mediapro has reached an agreement with its creditor funds to refinance its financial debt, which until now amounted to more than 900 million euros. The agreement includes a capital increase of 620 million.

This increase has been fully subscribed by its main shareholder, the Chinese group Southwind Group. The National Markets and Competition Commission (CNMC) estimates that after the operation Soutwind Group will control up to 70% of the group's assets, with Jaume Roures and Taxto Benet continuing to lead the management.

Most of these funds will be used to pay off the debt, until placing it por below 400 million net debt (500 million gross debt), with a net debt/EBITDA ratio of 2.3 times (2.9 times in the case of gross debt). The remaining amount will be allocated to the group's working capital.

The agreement definitively resolves the uncertainties caused by the effect of the pandemic on the group's activity and provides the company with a solid and healthy financial structure on which to base its growth plan.

Mediapro closed 2021 with a turnover of 1,218 million of euros and an EBITDA of 168 million.

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