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BRIEF-Southern Cross Media Negotiates Refinancing Of Its Syndicated Debt Facility
November 30, 2017 / 12:45 AM / 13 days ago

BRIEF-Southern Cross Media Negotiates Refinancing Of Its Syndicated Debt Facility

Nov 30 (Reuters) - Southern Cross Media Group Ltd:

* ‍SUCCESSFULLY NEGOTIATED REFINANCING OF ITS SYNDICATED DEBT FACILITY FOR A FURTHER THREE YEARS​

* SOUTHERN CROSS MEDIA -FACILITY WILL COMPRISE A 3 YEAR REVOLVING $500M FACILITY WHICH WILL BE USED TO REPAY EXISTING DRAWN DEBT OF $360M​

* ‍REFINANCING WILL BE FORMALLY COMPLETED ON 8 JANUARY 2018.​

* ‍FY18 NET FINANCE COSTS WILL REDUCE YEAR ON YEAR BY AN EXPECTED 15% TO AROUND $16M​ Source text for Eikon: Further company coverage:

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