July 30 (Reuters) - Seven West Media Ltd SWM.AX :
* AMENDED ITS $750 MILLION BANKING FACILITIES WITH COMPANY'S EXISTING LENDER GROUP
* EXTENDED MATURITY ON $450 MILLION IN LIMITS FROM 2H21 TO 2H22
* SUBSTITUTION OF EXISTING COVENANTS UNTIL DECEMBER 2021 IN BANKING FACILITIES
* IMPLEMENTATION OF $170 MILLION IN PERMANENT COST REDUCTION INITIATIVES ACROSS SWM
* SEES MAJORITY BENEFITS FROM COST REDUCTION IN FY20 AND FY21 ACROSS TV & NEWSPAPERS
* SAW ADDITIONAL TEMPORARY SAVINGS OF $50 MILLION IN FY20 TO OFFSET IMPACT OF WEAK AD MARKETS