TPG Capital Buys MediaWorks Debt

TPG Capital has bought NZ$70 million ($53 million) of the debt of New Zealand media company MediaWorks from Commonwealth Bank of Australia, Reuters reported. TPG Capital now holds about 20% of the senior loans of MediaWorks, Reuters wrote. MediaWorks was acquired by Australian private equity firm Ironbridge Capital in a NZ$800 million leveraged buyout in 2007.

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