Canuck net CTV reorganizes debt

Senior notes expected to save interest fees

TORONTO — CTV Inc. has restructured its debt by issuing C$150 million ($101 million) worth of senior notes, the Toronto-based network announced Thursday.

Ten institutions took up the senior notes at a fixed rate of 7.15%, due in 2009. The funds take the bank debt down to $175 million. Transferring the debt leaves the credit facility in the same position as before, spokesman Tom Curzon noted, but CTV is hoping that the fixed rate will save the company some interest over the next decade.

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