Sky makes €600 bond issue

Pay TV operator Sky has issued €600m of Euro denominated bonds.

According to the operator, the new debt refinances the remaining piece of its bank bridge facility put in place for acquisition of Sky Italia and Sky Deutschland, completed in November 2014.  In addition, it provides funding for the acquisition of the approximately 4% of Sky Deutschland shares held by minority shareholders that will be acquired by Sky later this year through the previously announced “squeeze-out” process.