Spanish production company Mediapro has reached a debt financing agreement that it says “definitively resolves” financial uncertainties caused by the Covid-19 pandemic.
The company has reached an agreement with its creditor funds to refinance its debt, which amounted to over €900 million. The agreement includes a €620 million capital increase with immediate effect, fully subscribed by the group’s majority shareholder, Southwind Group.
Southwind owns Mediapro’s majority shareholder, Orient Hontai Capital. The new deal sees Southwind’s overall shareholding grow from 53 per cent to 80 per cent.
Mediapro said the majority of the funds will be used to repay debt.
