KUALA LUMPUR (Dec 28): Astro Malaysia Holdings says its wholly-owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd (MBSN), has secured an RM300 million term loan from AmBank (M) Bhd.

The term loan is to be used to finance MBSN's production, purchase and licensing of content/programmes/channels, to purchase set-top boxes (including the settlement of vendor financing), for capital expenditure — including asset acquisition for broadcast and transmission and acquisition of software and platforms, and/or for lending to any member of the Astro Group at a mutually agreed interest rate.

The loan is available for multiple drawdowns within six months from the date of the facilities agreement.

"The term loan shall be fully repaid on or before the expiry of five years from the date of 1st drawdown, with the first installment payable by MBNS to AmBank on the date falling 36 months from the 1st drawdown,” it said.

Astro's shares slid 1 sen or 0.75% to close at RM1.32 per share today, giving it a market capitalisation of RM6.88 billion.