Image Delays Loan Payment

29 Oct, 2009 By: Erik Gruenwedel

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Image Entertainment Oct. 29 said it had amended an agreement with bondholders, allowing the Chatsworth, Calif.-based distributor to delay from Oct. 30 to Nov. 15 installment of $4 million principal payment, according to a regulatory filing.

The $4 million installment can be deferred until Nov. 30, 2009, if Image entered into an agreement with a third-party suitor that resulted in a change of control of the company.

The 8.875% senior convertible note is due Aug. 30, 2011, in the principal amount of $15,700,792.

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