Spanish digital satellite TV platform Via Digital is set to receive a cash injection of Euros640m via a loan organised by the Chase Manhattan Bank.
According to a press statement released jointly by Via and Chase, the loan will be used to finance the platform's plans for expansion which include continuing to improve its content offer and diversifying its interactive services.
The loan will also help offset Via's debts, which rounded Euros110m at the end of 1999. Via backer Telefonica will serve as guarantor.
Other banks contributing to the loan include ABN Amor, Banca Comerciale Italiana, BBVA, Banesto, Barclays Capital, BNP Paribas, Caja Madrid, Credit Agricole Indosuez, ING Barings and Telefonica shareholders BBVA and La Caixa.