OSN signs $400m loan - report

Cash to be used for general business purposes and to refinance existing debt
David Butorac, CEO, OSN.
David Butorac, CEO, OSN.

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Dubai-based pay-TV operator OSN has signed a $400 million five-year loan, according to a report from Reuters, which cited two banking sources familiar with the matter.

The cash is to be used for general business purposes and to refinance existing debt, the report added.

The facility is split into two parts - a $255 million term loan and a $145 million revolving credit facility, the sources said.

OSN operates subscription television services across the Middle East and North Africa and is owned by Kuwait Projects Company (KIPCO) and Saudi Arabia's Mawarid Group.

The full report can be read here.

 

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