Time Warner Guarantees CME’s New €469 Million Term Loan

March 4, 2016

The loan refinances CME’s 2017 PIK Notes and 2017 Term Loan.

On February 19, Central European Media Enterprises B.V., a wholly owned subsidiary of Central European Media Enterprises Ltd. (“CME”), entered into a €469 million senior unsecured term credit facility agreement with BNP Paribas as administrative agent, CME as guarantor, Willkie client Time Warner Inc. as guarantor and the lenders party thereto, the loan proceeds of which will be used to redeem CME’s 15.0% Senior Notes due 2017 and repay the outstanding principal amount of CME’s loan under the amended and restated term loan credit facility agreement between CME and Time Warner, as administrative agent.

CME is a media and entertainment company operating leading businesses in six Central and Eastern European markets with an aggregate population of approximately 50 million people.

The deal was handled by partners William Gump, Thomas Mark and William Hiller; and associates Katharine Donaldson, Phillip Lee, Dunia Rkein and Claire Soloski.