Seven West Media AGM addresses and trading update 2023 – Attached is a copy of the Chairman’s address and Managing Director and Chief Executive Officer’s address and presentation to be made at the Annual General Meeting commencing at 11.00am AEDT today
This release has been authorised to be given to ASX by the Board of Seven West Media.
Attachments (below):
1. Chairman’s address and Managing Director & Chief Executive Officer’s address
2. AGM presentation slides (including trading update)
Debt Facilities Update
Seven West Media (ASX: SWM) today announced that it has refinanced its syndicated debt facility.
The new facility has been downsized from $600 million to $525 million, and has also increased from three years to a four-year term. Despite recent market movement, funding costs have been held at approximately 2.4% above BBSY, reflecting the existing deal plus the extra tenor.
SWM Managing Director and Chief Executive Officer, James Warburton, said:
“At SWM we continue to deliver on our ambition to be Australia’s most connected news, sport and entertainment brand. While we accelerate our digital future, partnering for growth is one of our key priorities. “This refinancing continues a significant partnership with our supportive lender group and reflects SWM’s ongoing progress in transforming the business and reducing debt.”
SWM is being advised by Grant Samuel as financial adviser and Ashurst as legal counsel.
This release has been authorised to be given to ASX by the Board of SWM.
Media Release – Seven
Link to 7plus HERE
Seven West Media AGM addresses and trading update 2023
TV Central Seven content HERE
