February 8, 2018 / 7:05 AM / 18 days ago

BRIEF-Broadcaster CME aims to cut debt, lower borrowing costs in 2018

Feb 8 (Reuters) - Central European Media Enterprises Ltd :

* BROADCASTER CME SAYS EXPECTS TO USE INCREASED CASH GENERATION, SALE PROCEEDS FROM SLOVENIA AND CROATIAN OPERATIONS, WARRANT PROCEEDS, AND DEBT SAVINGS TO PAY DOWN “SIGNIFICANT” BALANCE OF PRINCIPAL ON DEBT IN 2018

* BROADCASTER CME SAYS THESE ACTIONS WOULD RESULT IN A NET LEVERAGE RATIO AROUND 3X BY THE END OF THE YEAR

* BROADCASTER CME SAYS UPON CLOSING OF THE SALE TRANSACTION AND REPAYMENT OF DEBT, WE EXPECT OUR AVERAGE BORROWING COST TO BE 4.5 PERCENT Source text for Eikon: Further company coverage:

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