Technicolor advances debt restructuring plan with EUR 330 mln capital increase

Wednesday 16 September 2020 | 16:27 CET | News

Technicolor announced the results of the capital increase with shareholders' preferential subscription rights, which is one of the operations agreed as part of the company’s ongoing financial restructuring process. Implemented to repay lenders, the transaction consisted of a rights issue for a total amount of EUR 330 million, at a price of EUR 2.98 per share.

Technicolor announced details of its financial restructuring plan in June. The company has already received new financing worth EUR 420 million, paid in two tranches. This was dependent on implementing a partial conversion of debt into equity, for a total of EUR 660 million.

Consisting of two operations, this conversion started with Technicolor’s latest transaction, amounting to EUR 330 million, and will be completed with a forthcoming EUR 330 million reserved capital increase, at a unit price of EUR 3.58 per share.

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Categories: General
Companies: Technicolor
Countries: France / World
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