KUALA LUMPUR: Astro Malaysia Holdings Bhd’s subsidiary Measat Broadcast Network Systems Sdn Bhd (MBNS) has accepted a RM380 million term loan from Sumitomo Mitsui Banking Corp Malaysia Bhd.
Astro said the term loan would finance MBNS’ cost relating to the production, purchase and licensing of content, program or channels and its purchase of set-top boxes as well as operating expenditure and capital expenditure for broadcast and transmission and acquisition of software and platforms.
Astro said the first drawdown would be made in three months from the date of the term loan agreement, available for multiple drawdowns within 12 months from the date of the first drawdown.
“The term loan shall be fully repaid on or before the expiry of five years from the date of first drawdown,” it said in an exchange filing today.
Astro added that term loan would facilitate the group’s borrowings to be managed efficiently due to attractive pricing and tenure.