Southern Cross Media Group Limited (AU:SXL) has released an update.
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Southern Cross Media Group Limited has successfully refinanced its syndicated debt facility, securing a new $160 million revolving facility extended to January 2028. This financial maneuver ensures repayment of the existing $118 million debt and offers greater operational flexibility, with the company maintaining favorable leverage and interest coverage ratios. The facility was oversubscribed, involving key local banks including Australia and New Zealand Banking Group, Commonwealth Bank of Australia, and National Australia Bank.
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