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Note holders grant Midway breathing space

Beleaguered publisher seeks further extension on potential debts owed to holders of Convertible Senior Notes

Midway has successfully negotiated agreement with some of its note holders, to delay having to buy back USD 75 million notes till February 19.

The notes comprise of the 7 per cent of the company's Convertible Senior Notes and the videogame publisher is seeking a similar extension on a further 6 per cent.

Late last year, it was speculated that Midway would be left unable to pay off its bondholders USD 150 million, which was the their right to request upon the sale of the company to private investor Mark Thomas.

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James Lee