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Discovery taps into $500m credit facility amid ‘unknown’ Covid-19 impact

US-based media group Discovery has borrowed $500m (€456.9m) under its credit facility as it seeks to tackle the impact of the Covid-19 pandemic.

In a filing to the US Securities and Exchange Commission, Discovery said that the “unknown impact” of the outbreak - plus Tuesday’s postponement of Tokyo’s 2020 summer Olympic and Paralympic Games - had forced it to retract its full-year 2020 performance outlook.

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