Financially challenged Technicolor is looking to strike a conciliation agreement with its existing bankers and lenders (in France described as a SFA: Sauvegarde Financiere Acceleree) and to thus restructure its obligations.

Technicolor needs a two-thirds majority agreement by its lenders in order to proceed with the SFA.

Alongside the SFA the technology company is looking to agree with its US-based lenders a recognition of the SFA and thus proceed with its restructuring on both sides of the Atlantic.

Technicolor, in a statement, says that these discussions are progressing. It says: “It should be further noted that the SFA and the Recognition Procedure would have no impact on the other creditors of the Group, including in particular its suppliers, or on the Company’s normal operations. Therefore, the Company announces another consent solicitation of its existing lenders under its Credit Facilities, in order to allow Technicolor to have the option to request the opening of the SFA and Recognition Procedure, without such actions constituting an event of default under the Credit Facilities.”

The debts include a €250 million revolving credit facility, a €755 million series of term loans and $300 million of US term loans. Other debts include a $125 million credit agreement made by Technicolor US, and a $110 million Bridging facility.

Other posts by :

1. Deutsch Bank reveals targets for AST SpaceMobile
2. AST SpaceMobile boss outlines benefits
3. Report: LEO build-out accelerates
4. Germany outlines space commitment
5. Analysis: Impact of AT&T on US telcos and cable
6. Bezos rocket production boosted
7. Musk delays Moon landing until 2027
8. Hughes Satellite facing cash crunch
9. Major banks support AST SpaceMobile

Categories: Articles, Business, Funding

Tags: SFA, Technicolor