The BBC has raised a £170 million in a seven-year US bond deal – the first time it has turned to the financial markets for funding.
The cash will be used to replace some of the BBC’s bank debt as it looks for longer-term funding and will be used to fund new content at the BBC’s commercial arm, BBC Worldwide.
A BBC spokesperson confirmed the funding deal, saying: “This is an excellent deal for BBC Commercial Holdings which provides a core of longer term debt at very low cost.
“In addition it establishes a new source of funding for the business, which sits alongside the bank debt, with a high quality group of Investors. The level of investor demand and final pricing reflects the underlying credit quality and strength of the BBC and its commercial businesses.”
Separately, BBC Worldwide confirmed that it will run its BBC Showcase event in Latin America again this year. The sales event will once again be based in Rio, Brazil, and take place August 18-to-20.
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