KUALA LUMPUR: Astro Malaysia Holdings Bhd
’s (AMH) wholly-owned subsidiary, Measat Broadcast Network Systems Sdn Bhd (MBNS), has accepted a term loan facility of up to RM160 million from AmBank.
The media and entertainment company said the facility, which was granted "on a clean basis,” is "to finance and/or reimburse MBNS’ costs relating to the production, purchase and licensing of content, programme or channels.”
It is also for MBNS’ "capital expenditure, including asset acquisition for broadcast and transmission, and acquisition of software and platforms,” it told the stock exchange.
"The facility is available for drawdown within six months from the date of the letter of offer or such later date as the bank may otherwise agree in writing.
"The facility shall be fully repaid on or before the expiry of 48 months from the date of the first drawdown, with the first installment to commence six months from the date of the first drawdown,” it added.
AMH said: "The facility would facilitate the group’s borrowings to be managed more efficiently due to its competitive pricing and tenure.” - Bernama
