JAKARTA (Yosefardi) – Shareholders of PT MNC Sky Vision Tbk (MSKY) have today (Oct 11) approved the company’s proposal to seek new loan of US$259 million, equivalent Rp2.5 trillion.
The loan will be used to refinance its existing bond debt of US$165 million. The company will put its units – Aerospace Satellite Corporation Holding BV, Aerospace Satellite Corporation BV, and PT Media Citra Indosiar – as collateral/guarantee for the loan.
The existing bond debt, carries annual interest rate of 12.75%, is scheduled to mature in November 2015, but offers option to make repayment/settlement staring November 16, 2013.
MSKY is Indonesia’s premier satellite Pay-TV provider with its well-known brand, Indovision.