Prisa wins loan extension, not refinancing yet

MADRID, June 20 (Reuters) - Spanish media group Prisa (PRS.MC: Quote, Profile, Research) has won a month's extension on a bridge loan it took out to fund its buyout offer for pay-TV arm Sogecable, which it said should give it time to refinance the debt package.

Earlier, a company source said Prisa was in the last stages of the 4 billion euro ($6.2 billion) debt refinancing. The loan was underwritten by HSBC and expires on Friday.

"This month-long extension should allow us to finalise the deal negotiated to renew this credit until March 2009," Prisa said in a statement. (Reporting by Robert Hetz; Writing by Jane Barrett)