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Astro secures RM400 mil term loan facility from SMBC
Astro Malaysia Holdings Berhads wholly owned subsidiary, MEASAT Broadcast Network Systems, has secured a term loan of RM400 million from Sumitomo Mitsui Banking Corporation Malaysia Berhad - File Pic
Astro Malaysia Holdings Berhad’s wholly owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd, has today secured a term loan of RM400 million (“Facility”) from Sumitomo Mitsui Banking Corporation Malaysia Berhad (“SMBC”) on a clean basis.
The term loan is available for multiple drawdowns and the first drawdown shall be made within 3 months from the date of the Facility Agreement. The Facility shall be fully repaid in 4 years from the date of the first drawdown with a 1-year option to extend.
The purpose of the term loan is to finance the following:
• Costs relating to the production, purchase and licensing of content, programme or channels, and its purchase of set-top boxes, including the settlement of vendor financing
• Capital and operating expenditure
• Refinance the existing term loan facility of RM380 million obtained on 9 August 2018
The term loan is available for multiple drawdowns and the first drawdown shall be made within 3 months from the date of the Facility Agreement. The Facility shall be fully repaid in 4 years from the date of the first drawdown with a 1-year option to extend.
The purpose of the term loan is to finance the following:
• Costs relating to the production, purchase and licensing of content, programme or channels, and its purchase of set-top boxes, including the settlement of vendor financing
• Capital and operating expenditure
• Refinance the existing term loan facility of RM380 million obtained on 9 August 2018