Munich-based TV-Loonland inked an agreement with its bankers in a debt-to-equity deal. The deal reduces the 20 million euro debt to 6 million euros in return for a capital increase of 2 million euros and a 10 percent shareholding in the business. This will follow a second capital increase as a debt-for-equity swap. TV-Loonland said that it would publish accounts for the financial year 2006 and for the first and second quarters of 2007 shortly.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.