Sirius Media restructures its bond issue and reduces its financial burden

Sirius Media has announced the complete restructuring of its €5.774 million bond issue. This transaction, approved by 93.61% of bondholders, allows for the cancellation of €1.973 million of past interest and reduces the interest rate from 14% to Euribor 12M + 1.50%, representing an indicative rate of 4.251% per annum.

Thanks to this restructuring, the annual interest expense decreases from €808,405 to €245,466, generating net annual savings of €514,939. An 11-month standstill period is established, followed by repayment in 60 monthly installments starting in May 2027. The interest can be converted into shares at a 20% premium.

The agreement puts an end to the disputes and strengthens legal certainty. In the event of a sale of the "Media" business, 30% of the proceeds would go to bondholders.