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BRIEF-Asian Pay Television Trust Says Total Annual Interest Costs Expected To Be Lower By About S$9 Mln From 2019

Reuters SG

Nov 26 (Reuters) - Asian Pay Television Trust:

* FOLLOWING SUCCESSFUL REFINANCING, TOTAL ANNUAL INTEREST COSTS EXPECTED TO BE LOWER BY ABOUT S$9 MILLION FROM 2019

* "TO SUPPORT DEBT MANAGEMENT PROGRAMME, APTT WILL PAY MORE CONSERVATIVE DISTRIBUTIONS TO UNITHOLDERS"

* DISTRIBUTION IS EXPECTED TO BE 1.20 CENTS PER UNIT FOR 2019 AND 2020

* NEW DISTRIBUTION LEVEL IS EXPECTED TO BE 0.30 CENTS PER UNIT PER QUARTER BEGINNING FROM Q4 OF 2018 THROUGH TO 2020

* GEARING RATIO IS EXPECTED TO PEAK AT NEARLY 8 TIMES NET DEBT TO EBITDA BY 31 DECEMBER 2018

* "WE EXPECT OUR DEBT LEVELS AND GEARING RATIO TO GRADUALLY DECLINE STARTING FROM 2019" Source text for Eikon: Further company coverage: