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MUMBAI: Worldspace satellite radio has secured a $40 million financing facility from Yenura Pte.
The company secured a waiver of certain pre-payment obligations owed to the holders of its existing debt.
The facility supports the company's preparations for the launch of its European mobile service in the Italian market and business development activities in selected markets. However, Worldspace will continue to seek to secure additional financing from a variety of sources, including existing and new investors.
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