Mediapro Group agrees refinancing plan

Mediapro Group has reached an agreement with its creditor funds to refinance its financial debt, which amounted to over €900 million. The agreement includes a €620 million capital increase with immediate effect, fully subscribed by the group’s majority shareholder, Southwind Group.

The majority of these funds will be used to repay debt, bringing it to below €400 million net debt (about €500 million gross), with net debt-to-EBITDA ratio of 2.3 times (2.9 times in the case of gross debt) and the remaining amount will be used for the group’s working capital.

The agreement is said to definitively resolve uncertainties caused by the effect of the pandemic on the group’s activity and provide the company with a solid and healthy financial structure on which to base its plans for growth.

The group closed 2021 with a turnover close to €1.22 billion and EBITDA of €168 million.