AsiaSat of Hong Kong has refinanced $220 million (€192m) of long-term loans and revolving credit. The new facility replaces a $240 million borrowing already in place.

The borrowing has a 5-year term, which is the same as the previous borrowing negotiated in June 2015.

The new terms were negotiated with Cathay United Bank Co., Ltd., CTBC Bank Co., Ltd., DBS Bank Ltd., ING Bank N.V., Singapore Branch and Mega International Commercial Bank Co., Ltd. as mandated lead arrangers, certain financial institutions as lenders and DBS Bank Ltd., Hong Kong Branch as facility agent and as security agent.

AsiaSat says: “The purpose of the Refinancing Facilities is primarily to refinance the Dividend Facility and for the corporate funding requirements of the Company and its subsidiaries. The Refinancing Facilities are for a term of 5 years from the initial drawdown date of the Refinancing Facilities.”

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