Modern Times Group (MTG) and its subsidiary Nordic Entertainment Group (NENT Group) have jointly agreed a SEK 4 billion (€0.38bn) five year revolving credit facility with a group of six Nordic banks.

The facility replaces MTG’s existing SEK 4 billion facility, which matures in December 2018, and will provide back-up funding for MTG’s SEK 3 billion commercial paper programme and other short-term financing. The facility will serve as an initial source of funding for NENT Group when the company is listed separately on Nasdaq Stockholm prior to the intended issue of new commercial paper and bonds.

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