Asian Pay Television Trust (SGX:S7OU) secured lenders' commitments for refinancing of its onshore and offshore facilities, according to a filing with the Singapore Exchange on Monday.
The facilities comprise a term loan facility and a revolving loan facility, fully underwritten by Taipei Fubon Commercial Bank, Cathay United Bank, and Entie Commercial Bank, who are the exclusive mandated lead arrangers.
The agreements will be signed in March. The onshore facilities will be for a period of seven years while the offshore facilities will be for a period of three years, extendable by two years.
Around SG$40 million of offshore loan will be moved back to onshore to save interest costs.
Through debt management, the trustee-manager will be able to trim both facilities by around SG$152.6 million.
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