Simpson Thacher Represents Initial Purchasers in the Offering of €300 Million Senior PIK Toggle Notes by PTH and the Offering of €430 Million Senior Notes by the TVN Group
09.24.13
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Simpson Thacher represented J.P. Morgan Securities Ltd., Nomura International plc, Deutsche Bank AG, London Branch and BNP Paribas as initial purchasers, in connection with a €300 million offering of 11%/ 12% Senior PIK Toggle Notes due 2021 by Polish Television Holding B.V. and a €430 million offering of 7.375% Senior Notes due 2020 by TVN Finance Corporation III AB (publ), a subsidiary of TVN S.A.
The TVN Group is the leading private commercial television broadcaster in Poland. Polish Television Holding B.V. is a holding company, the primary asset of which is approximately 52.42% of the shares of TVN S.A. The offerings of the notes were made to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in accordance with Regulation S.
The Simpson Thacher team for this transaction included Gregory Conway, Carol Daniel, Wim De Vlieger, Kristyn Greene, Federico Fruhbeck and Rohan Kaul (Capital Markets), Euan Gorrie, Lucy Jenkins, Shahpur Kabraji and Tanim Rahman (Credit) and Sean Fitzgerald (Tax).