May 14, 2015 / 9:12 AM / 3 years ago

BRIEF-Prisa repays part of its financial debt

May 14 (Reuters) - Promotora de Informaciones SA :

* Said on Wednesday that it had proceeded to pay 385.5 million euros ($439.3 million) corresponding to “new money” obtained from institutional investors in Dec. 2013

* This fully paid tranche is of higher cost of Prisa’s total debt

* This amortization is added to the debt buybacks announced since the signing of the refinancing of Prisa in Dec. 2013, which allowed to repay a total of 1.28 billion euros since then

* As a result of the transaction Prisa is able to meet in advance the second of the milestones agreed with its creditors, initially scheduled for Dec. 2016 and consisting in reducing 1.50 billion euro debt

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