Banijay completes Endemol Shine acquisition refinancing drive | Media Investment | Business
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Just over three months after it first announced that it was to acquire the leading producer and distributor, Banijay Group has revealed that it has raised from the investor community the necessary €2.378 billion to complete its buyout of Endemol Shine Group.
Masterchef Endemol 25Jan2019 landsc
Explaining the rationale for its acquisition at the time, Banijay said that it saw the purchase of the Disney co-owned company as not only expanding its footprint but also consolidating its position as a leading home for talent and intellectual property.

Moreover, Banijay now sees itself as a worldwide player in content production and entertainment. It will now own a combined catalogue encompassing close to 100,000 hours of TV shows and series from Endemol Shine’s 120 production labels with an estimated 66,000 hours of scripted and non-scripted programming together with over 4,300 registered formats. It now also own almost 200 production companies in 23 territories and the rights for close to 100,000 hours of content. Brands and formats include Black Mirror, Versailles, The Millennium Trilogy, Peaky Blinders, Big Brother, MasterChef (pictured) , Survivor, Temptation Island, Wife Swap and The Island.

Revealing the funding round, Banijay said that following positive feedback from the investor community, the funding drive was oversubscribed and that it had raised the full investment across Euros and US Dollars with a maturity of five year. This give Banijay the necessary funds to re-finance the group’s existing debt, as well as that of Endemol Shine.

In detail, €575 million senior secured notes will be due 2025, which are priced at par and have a coupon of 3.500% per annum while $403 million senior secured notes will be due in 2025, which are priced at par and have a coupon of 5.375% per annum. In addition there are €400 million senior notes due 2026, which are priced at par and have a coupon of 6.500% per annum. A €453 million term loan B facility will bear interest at a rate of EURIBOR plus 3.75% per annum, with a customary margin ratchet mechanism with a 0.0% EURIBOR floor .