Technicolor SA (TCH), a Paris-listed media technology company, extended the deadline in its offer to buy back bonds as it seeks to refinance about 1.2 billion euros ($1.5 billion) of loans and notes.
Bondholders have until 6 p.m. New York time tomorrow to tender their securities, according to a statement from the company. Investors had already agreed to sell back about 99 percent of the notes. The company also offered to purchase its senior, secured loans and lenders holding 61 percent of the facilities agreed to the deal.
The company, which was known as Thomson SA until it was restructured in 2009, plans to obtain a new loan to fund the tender offers, a person familiar with situation said July 8. The refinancing will close in a few days, the company said in the statement today.
Technicolor is buying back the debt and will raise the new financing though its Tech Finance SCA unit, according to a June 11 statement.
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