JAKARTA (Yosefardi) – PT MNC Sky Vision Tbk (MSKY) has in 19 November 2013 signed syndicated loan facility agreement amounting US$250 million, equivalent Rp2.9 trillion, provided by 2 banks.
That 2 banks are Deutsche Bank and Standard Chartered Bank. The loan has tenor of 3 years and carries interest rate of LIBOR+4.25%.
The loan will be used to refinance its existing bond debt of US$165 million. The bond carries interest rate of 12.5% and scheduled to mature in 2015.
MSKY will put its units – Aerospace Satellite Corporation Holding BV, Aerospace Satellite Corporation BV, and PT Media Citra Indosiar – as collateral/guarantee for the loan.
MSKY is Indonesia’s premier satellite Pay-TV provider with its well-known brand, Indovision.