SIC – Sociedade Independente de Comunicação, S.A.

SIC is a subsidiary of Impresa – Sociedade Gestora de Participações Sociais, S.A. and operates TV broadcasting, audiovisual and film production, as other media activities, namely, digital content. Additionally, the Company provides technical services in media, audiovisual and cinematographic, and digital television.

Capital Markets

On July 2019 SIC debuted in the Portuguese stock market by issuing 1.7m bonds (“Bonds SIC 2019-2022”), with a fixed interest rate of 4,5%, raising a total amount of €51m. On June 2021, SIC issued new bonds (“Bonds SIC 2021-2025”), with a fixed interest rate of 3,95%, through an underwriting offer and an exchange offer respective to the bonds issued in 2019.

*Initial offering (3,96x final offering)
Source: SIC, Eco, Jornal de Negócios, Dinheiro Vivo

Main reasons for pursuing public financing

  • Access to the market through public bond offerings is an alternative mechanism to traditional sources of bank finance
  • Extension of debt maturity to ensure that debt service payments are closer to future cash flow generation
  • Reduce the cost of debt, by replacing part of its older debt, with the issuance of new bonds
  • Set a solid foundation of investors to improve the Company’s future liquidity

“We are extremely pleased with the outcome of this operation. Investors once again answered positively, confirming the confidence they have in SIC and its values. We have therefore met our goals of diversifying our sources of financing and extending the average maturity of our debt”.

Francisco Pedro Balsemão – SIC Board Member

The bond issuance performed by SIC in 2019 was the first bond issuance from a Portuguese Media Company. The operation enabled the Company to take advantage of the favourable context to raise financing, adjust its treasury plan and strengthen its financial structure significantly.

The information presented is the responsibility of the respective companies