Splendid Medien AG Receives 7.5m from a Finance Agreement with HSBC
Press release - April 13, 2006
(Cologne, April 13, 2006) Splendid Medien AG, Cologne, and HSBC Trinkaus & Burckhardt KG, Düsseldorf, have reached agreement on a long-term finance agreement valued at 7.5 million euros. Splendid Medien AG will use the incoming capital to implement its planned growth.
In addition to the acquisition of film rights for the license trading and home entertainment business, the company will finance opportunities as they arise and strategic projects with medium term revenue potential.
Based on the agreement, HSBC receives an interest rate coupled with the 7-year EURIBOR, which is fixed for the whole life on the record date of the extension. The junior loan has a life of seven years and provides for repayment on maturity.
The income from this finance agreement is the final step in Splendid Medien AG's successful recapitalization work over the past two years and ensures its long-term financial base.