April 6, 2018
LazyTown's financial restructuring has been finalized by agreement with bondholders and the bank. After the restructuring, the equity ratio is above 80 percent and there are no repayments of loans for the next two years.
In addition, the company has secured a credit facility and there is no refinancing risk for the next few years. LazyTown reports that this leaves it in a strong position for future growth.
"I'm extremely thankful and grateful to the stakeholders who worked together to conclude this process," says Magnus Scheving, chief executive officer of LazyTown, who will remain a major shareholder in the company. "We are excited to continue leveraging the incredible opportunities being presented to the brand, while at the same time contributing towards a healthier generation of young people."
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