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TV-Loonland reveals restructuring plan

TV-Loonland has finalized its debt restructuring plan. As part of the refinancing agreement, a US$26.8 million banking debt has been reduced to US$8 million, and a minimum capital increase of US$2.6 million will be carried out.
August 16, 2007

TV-Loonland has finalized its debt restructuring plan. As part of the refinancing agreement, a US$26.8 million banking debt has been reduced to US$8 million, and a minimum capital increase of US$2.6 million will be carried out.

Subsequent to the influx of new capital, the US$18.7 million waived by the banks is being converted into a maximum 10% share in the company.

The full details of the restructuring package will be presented to Loonland shareholders for approval at the company’s forthcoming AGM.

About The Author
Gary Rusak is a freelance writer based in Toronto. He has covered the kids entertainment industry for the last decade with a special interest in licensing, retail and consumer products. You can reach him at garyrusak@gmail.com

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