The true picture of Foxtel's financial health is about to become clearer, with a key debt milestone looming next week.

Foxtel's financial position has been the subject of intense media industry speculation since the News Corp and Telstra-owned company engaged investment banks Goldman Sachs, JPMorgan and Citigroup in early March to help it raise billions of dollars in fresh debt funding.

Foxtel has been under pressure, disrupting itself with new video streaming platform Kayo Sports. Credit:Bloomberg

The capital would be used to repay existing loans as well as to provide funding for a deepening push into online streaming. Foxtel has $744 million in debt falling due this year, including a $211 million credit facility that expires on April 7, according to News Corp's most recent results.

Although Foxtel remains profitable and is backed by two large shareholders, the weakening market for full service TV subscriptions could make it harder for the company to raise debt of that magnitude without paying higher interest rates, sources say.