Image Pares Long-Term Debt by $2 Million
Image Entertainment Inc., a Chatsworth laser disc distributor, said it has voluntarily reduced its long-term debt by $2 million as part of its debt-reduction plan.
It was the fourth time in Image’s fiscal year ending March 31, 1993, that the company has pared down its long-term debt. Since restructuring last March, Image has reduced its long-term debt by $6.5 million, which has cut its annual interest payments by $220,000.
Image also said it was hoping to refinance its remaining $13.5 million in long-term debt at lower interest rates.
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