Southern Cross Media Group Refinances Debt Facilities

MT Newswires Live

Dec 16, 2024

Southern Cross Media Group (ASX:SXL) refinanced its committed syndicated debt facility by securing a new three-year revolving AU$160 million facility, according to a Friday filing with the Australian bourse.

The refinancing extends the maturity of its debt to January 2028 and will repay AU$118 million of drawn debt as of June 30, the filing said.

Key financial covenants, including a maximum leverage ratio of 3.5 times and minimum interest cover of 3 times EBITDA, remain unchanged. The refinancing is set to be completed by Jan. 13, 2025, the filing added.

The facility will be provided by ANZ Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), and National Australia Bank (ASX:NAB).

National Australia Bank's shares were up almost 1% in recent Monday trade.

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The refinancing is set to be completed by Jan. 13, 2025, the filing added.</p><p>The facility will be provided by ANZ Group (ASX:ANZ, NZE:ANZ), <a href=\"https://laohu8.com/S/CBAPJ.AU\">Commonwealth Bank of Australia</a> (ASX:CBA), and National Australia Bank (ASX:NAB).</p><p>National Australia Bank's shares were up almost 1% in recent Monday trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SXL.AU","symbol_name":"SOUTHERN CROSS MEDIA GROUP L","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2491474687","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491474687","pubTimestamp":1734318948,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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The refinancing is set to be completed by Jan. 13, 2025, the filing added.The facility will be provided by ANZ Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), and National Australia Bank (ASX:NAB).National Australia Bank's shares were up almost 1% in recent Monday trade.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}