18TH OCTOBER 2011Seven West Media (SWM) is pleased to announce...

18TH OCTOBER 2011
Seven West Media (SWM) is pleased to announce that it has entered into definitive documentation on
a new credit facility ('New Facility') with 12 domestic and international lenders. The New Facility will be
used to refinance SWM's existing credit facilities. The refinancing is expected to close within 30 days.
As previously foreshadowed, these new facilities amounts reflect the lower debt objectives of the
group and current SWM net debt levels are comfortably within these new facilities.
The New Facility has an average tenor of over 4 years. The pricing on the loan will be based on the
prevailing net leverage ratio of SWM and, including the establishment fees associated with the New
Facility, SWM's total annual cost of debt capital will be similar to the cost under the current facilities.
The New Facility has 3, 4 and 5 year tranches totalling $1.95 billion. In addition, SWM will have
available a $125 million revolving working capital facility which can be accessed for general corporate
purposes.
The New Facility is being provided by Australia and New Zealand Banking Group Limited, BOS
International (Australia) Limited, Commonwealth Bank of Australia, Goldman Sachs Lending Partners
LLC, Mizuho Corporate Bank, Limited, National Australia Bank Limited, Sumitomo Mitsui Banking
Corporation, UBS AG, Australia Branch, and Westpac Banking Corporation each a Mandated Lead
Arranger and Bookrunner as well as Bank of America NA Barclays Capital and JP Morgan Chase
Bank, NA each a Mandated Lead Arranger. These institutions all have strong relationships with Seven
extending over many years. KKR Capital Markets (KCM) advised Seven West Media on the
refinancing.
Commenting on the New Facility, the Chairman, Mr Kerry Stokes, AC said “These new facilities
ensure the group has sufficient long term funding to meet its business objectives while providing the
flexibility to steadily reduce the overall level of debt over the 5 years from the cash flows of the
business. We are happy that our banks have provided such a clear message of support and welcome
the completion of this final piece of the merger transaction”
PETER BRYANT
COMPANY SECRETARY