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TV3's €81m loan written off

  • 27-11-2014 8:57am
    #1
    The Cush
    Registered Users, Registered Users 2 Posts: 15,848 ✭✭✭✭


    Continued from here - http://www.boards.ie/vbulletin/showthread.php?p=93208347#post93208347

    TV3's 2013 accounts were published on the CRO's website recently.

    According to the accounts they repaid bank loans of €44.5m and realised a gain of €8.9m by purchasing their IBRC debt at auction last Dec.

    The €81.1 facility B (standstill) loan appears to be completely written off.

    The €52.7m in loans and other outstanding amounts of revolving credit and guarantee facilities (€59.1m in total at the end of 2012) were financed by a €37m loan from Bluebay Ireland Corporate Credit and a €7m loan from their shareholder.

    They also entered into a revolving credit facility of €10m with Ulster Bank with €4m in guarantees drawn down at the end of last year (for programme purchaces of £23.7m in 2013).

    Their net debt at the end of 2013 stands at €75m which includes intercompany loans of €32.3m.


Comments

  • #2
    watty
    Registered Users, Registered Users 2 Posts: 32,417 ✭✭✭✭watty


    It's a disgrace.

    They ought to have had their licence pulled years ago.


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