Canwest Global Communications Corp. said Wednesday it has been granted another two-week extension on a $30.4-million interest repayment.
The company also said senior lenders to its Canwest Media Inc. subsidiary have agreed to extend the waiver of certain borrowing conditions until May 19, 2009.
"During the extension period, [Canwest Media's] senior lenders have agreed to provide the company with additional access to credit," the company said in a release.
Canwest said its lenders have agreed not to demand repayment of the full $761 million that the company owes to them.
The owner of the National Post and a chain of daily newspapers across the country as well as the Global television network, Canwest has about $3.9 billion in outstanding debt.
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