Munich- Children’s programming producer and distributor TV-Loonland has reached an agreement with its bankers to restructure the company’s debt, which will enable it to continue trading. The EUR 20 million debt owed to banks will be reduced to EUR 6 million and there will be a minimum capital increase of EUR 2 million. The EUR 14 million waived by the banks will be converted to a 10% shareholding in the company´s new capital. Full details of the restructuring package will be presented to shareholders for approval at the forthcoming AGM. Once approved, TV-Loonland says it “looks forward to fully executing its business plan for the coming years with all of its new titles.” The company’s library includes in-house productions such as Pettson and Findus and the Cramp Twins, as well as Little Princess, Clifford and Connie the Cow.