By Lee Su Shyan

SINGAPORE Press Holdings (SPH) is taking out $150 million worth of loan facilities with local banks DBS and OCBC.

The media giant said yesterday it had inked separate agreements with the two banks. The tenure is for three years and the funds will be used for working capital and general corporate funding.

This is likely to include the upcoming payment of the proposed final tax-exempt dividend of 19 cents a share for the financial year ended Aug 31.

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