And there is no point looking to Foxtels other shareholder, Telstra, which contributed nothing to help Foxtel with its April repayment.
Thus the race is on to refinance nine separate debt facilities that become payable between now and 2022. And new debt facilities wont come cheap for Foxtel, which is currently paying between 3.55 per cent and 7.04 per cent on borrowings.
Foxtel is in an unenviable position. Its fixed costs are high, its carrying a relatively big debt load and it needs to invest
It is reportedly looking to access debt from Asian markets – where debt covenants are not as onerous – but higher interest rates make borrowing more expensive.
For years Foxtel has been plagued by its inability to grow subscriber numbers and more rece…
Read the full article at: https://www.smh.com.au/business/companies/murdoch-pulls-foxtel-out-of-the-financial-fire-20190514-p51n9u.html