SATS (SGX:S58) obtained a loan facility of up to SG$500 million to refinance its existing loan facilities and extend the maturity of its debt, according to a filing with the Singapore Exchange on Monday.
The facility is part of the company's strategy to reduce its borrowed amounts.
The company has already fully repaid its SG$200 million worth of 2.88% medium term bonds and SG$100 million worth of 2.60% bonds.
The repayments will reduce the company's interest expense by around SG$8.4 million per year.
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