Nine shuffles debt for savings
NINE Entertainment has refinanced its debt facilities, with a syndicate of domestic and international banks providing the new financing.
The new $825 million facility, in four and five-year tranches, replaces an existing US dollar loan.
Nine will book a one-off pre-tax cost of about $35m in its full-year results due to writing off previously capitalised loan establishment costs and loan early termination costs.
The media group said the refinancing, which is expected to close by June 30, was estimated to deliver savings of $20m a year.
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