New debt facilities takes pressure off SWM

The Australian Financial Review has reported that Seven West Media has put together a new facility with eight lenders, leading to the deferrment of $450 million of debt to early 2023.

The company is set to detail current debt levels next month, when full-year results are released.

Last year's total debt of $541 million has been reduced with the sale of some assets - including its Pacific Magazines to Bauer Media - and there are hopes of selling its Seven Studios business.

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