Summary of Proposed Investment
Project Number
25774
Company Name
PM Invest Company Limited
Date SPI Disclosed
Jan 12, 2007
Country
Russian Federation
Industry
Telecommunications and Technology
Projected Board Date
Feb 13, 2007
Status
Completed
Sector
Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Department
WBG Digital and AI
Environmental Category
C - No Impact
Previous Events
Approved : Mar 28, 2007
Signed : Mar 30, 2007
Invested : May 23, 2007
Project Description
Prof-Media (or the company) is Russia’s largest diversified entertainment media group with a portfolio of assets in TV and radio broadcasting, movie production and distribution, cinema, Internet, magazines and newspapers. The company’s activities are consolidated in a sole purpose holding company, called PM Invest Company Limited incorporated in Cyprus.
To date, Prof-Media’s has grown based on an M&A strategy. Capital expenditures and acquisitions have been financed by internal cash generation and contributions from the shareholders. As the company has been relatively under-leveraged, it is seeking third-party funding to help finance its growth and repay shareholder bridge loans. IFC is contemplating to participate in the senior debt financing by providing $50 million as an anchor investor alongside a $250 million credit linked notes (the CLN) arranged by Renaissance Capital. The CLN were successfully placed within a diverse group of both Russian and international investors.
To date, Prof-Media’s has grown based on an M&A strategy. Capital expenditures and acquisitions have been financed by internal cash generation and contributions from the shareholders. As the company has been relatively under-leveraged, it is seeking third-party funding to help finance its growth and repay shareholder bridge loans. IFC is contemplating to participate in the senior debt financing by providing $50 million as an anchor investor alongside a $250 million credit linked notes (the CLN) arranged by Renaissance Capital. The CLN were successfully placed within a diverse group of both Russian and international investors.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Sergey Tikhonov, Head of Strategy and Investments
(Tel) +7 495 797 5335
(Fax) +7 495 787 5305
Email: stikhonov@profmedia.ru
Mihaly Szalontay
Associate, Investment Banking
Renaissance Capital
(Tel) +7 495 783-5678
(Fax) +7 903 758 6971
Email: msalontay@rencap.com
(Tel) +7 495 797 5335
(Fax) +7 495 787 5305
Email: stikhonov@profmedia.ru
Mihaly Szalontay
Associate, Investment Banking
Renaissance Capital
(Tel) +7 495 783-5678
(Fax) +7 903 758 6971
Email: msalontay@rencap.com
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster