Broadcaster refinances

Southern Cross Media has reached a deal with lenders to refinance $765 million of debt, as it tries to bring down its gearing. The broadcaster said the five-year debt facility included improved commercial terms and financial covenants. The facility will be funded by ANZ, NAB and Commonwealth Bank, as well as the Japanese banks Sumitomo and Mizuho.

Southern Cross Media has reached a deal with lenders to refinance $765 million of debt, as it tries to bring down its gearing. The broadcaster said the five-year debt facility included improved commercial terms and financial covenants. The facility will be funded by ANZ, NAB and Commonwealth Bank, as well as the Japanese banks Sumitomo and Mizuho.