Astro Malaysia said its wholly-owned subsidiary, Measat Broadcast, has accepted a Term Loan Facility of up to RM160 million from AmBank (M) Berhad. The Facility is granted to MBNS on a clean basis.
The facility will be available for drawdown within 6 months from the date of the Letter of Offer or such later date as the Bank may otherwise agree in writing.
Among the condition is that it has to be fully repaid on or before the expiry of 48 months from the date of the first drawdown, with the first instalment to commence 6 months from the date of the first drawdown.
Astro will be using the facility for costs relating to the production, purchase, and licensing of content, programme or channels; and capital expenditure including asset acquisition for broadcast and transmission, and acquisition of software and platforms.
The Board of Directors of AMH said after having considered all aspects of the Facility, is of the opinion that the Facility will facilitate AMH group’s borrowings to be managed more efficiently due to its competitive pricing and tenure.
