Fresh cash for Constantin Medien
by Birgit Heidsiek
- Corporate bond with a volume of €65 million was collected in a few hours
The Munich-based media enterprise Constantin Medien AG, which focuses on sports, film, commercial rights and strong international brands, has issued a corporated bond with a volume of €65 million. The cash injection is an essential financial element for the company, which has further expansion plans. Besides the rescheduling of existing payables, Constantin Medien plans specific investments to improve the profit situation and diversify their product portfolio even further.
The corporate bond has a life of five years from 2013 to 2018, and offers an interest rate of 7% per annum. The subscription period started on April 15 and was supposed to run until April 19, 2013. Due to the tremendous feedback from institutional and private investors, Constantin Medien was able with their corporate bond to collect the total of €65m in just a few hours.
The listed company had a positive balance in 2012. Constantin Film received the highest reference funding from the German Federal Film Fund (FFA) which rewards the commercial success of the producers and distributors in Germany. Furthermore, the Constantin imperium includes the German broadacster Sport 1, which has won the second bidding of the tender initiated by the Deutsche Fußball Liga (DFL) for audio exploitation rights relating to the Bundesliga.
Constantin Medien already had a covertible loan in 2006, which was running until 2013. As one of the first German media companies, Constantin Film went public in 1999, when the new German stock market Neuer Markt began. In 2012, the Constantin Medien conglomerate raised their turnover by 11.8% to €520.5m.
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