KUALA LUMPUR (Sept 26): Astro Malaysia Holdings Bhd’s unit MEASAT Broadcast Network Systems Sdn Bhd (MBNS) has accepted a synthetic foreign currency loan of up to US$150 million.

In a filing with Bursa Malaysia on Monday (Sept 26), the satellite television provider said its wholly-owned subsidiary MBNS has accepted a synthetic foreign currency loan facility from MUFG Bank (Malaysia) Bhd.

The facility is granted to MBNS on a clean basis.

The loan is available for drawdown within six months from the date of the execution of the facility agreement.

“The facility shall be fully repaid on or before the expiry of seven years from the date of the first drawdown. The first instalment payable by MBNS to MUFG shall be the date falling 36 months from the first drawdown date,” Astro said in the filing.

The purpose of the loan is to refinance the existing synthetic foreign currency loan facility, amounting to approximately RM613 million, obtained on Dec 13, 2017.

Astro said that its board, after having considered all aspects of the facility, is of the opinion that the facility will aid the managing of the group’s borrowings more efficiently, due to its attractive pricing, tenure and ringgit settlement currency.

Astro’s shares closed 0.6% lower to 83 sen on Monday (Sept 26), giving the company a market value of RM4.30 billion.