KKR and Permira Advisers are in talks with lenders to amend terms of loans to reduce its stake in ProSiebenSat1 Media, Bloomberg reports. The private equity firms have proposed an amendment, which will allow them to sell a part of their stake and repay some of the loans, without prompting a full repayment. The loans are set to mature in 2015. The firms will need to raise about €2 billion through an IPO to repay all of the debt. The firms have offered the lenders a fee of 10 basis points for the amendment, which is being coordinated by UniCredit.
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