$Asian Pay Tv Tr (S7OU.SG)$ APTT Management Pte. Limited (th...

APTT Management Pte. Limited (the “Trustee-Manager”), as Trustee-Manager of Asian Pay Television Trust (“APTT” or the “Trust”, and together with its subsidiaries, the “Group”), wishes to announce that it has secured lenders’ commitments for the refinancing of its Onshore and Offshore facilities. The facilities, each comprising a term loan facility and a revolving loan facility, are fully underwritten by Taipei Fubon Commercial Bank Co., Ltd., Cathay United Bank Co., Ltd. and Entie Commercial Bank, who are the exclusive mandated lead arrangers. Taipei Fubon Commercial Bank Co., Ltd. is the facility agent for the refinancing.

The refinancing agreements are expected to be signed in March 2025 with financial close expected to be in April 2025. The refinanced Onshore facilities will be for a period of seven years, while the Offshore facilities will be for a period of three years, extendable by another two years. As part of the financial close, approximately S$40 million (equivalent to NT$1 billion) of Offshore loan will be moved back to Onshore to save on interest costs.

With focused debt management, the Trustee-Manager will be able to reduce the size of both Onshore and Offshore facilities by approximately S$152.6 million. The size of the refinanced Onshore facilities will be reduced by NT$2.0 billion (equivalent to approximately S$81 million) to NT$27.5 billion. This is despite the moving of NT$1.0 billion in Offshore loan to Onshore. Meanwhile, the size of the more costly refinanced Offshore facilities will be reduced by S$71.6 million to S$50 million.