Everyone expected there would be yet another extension in the Canwest interest payment saga, but the company that signs my paycheques also announced it has gotten another $175 million in financing, which is a good thing I think.

The reports from Reuters, the Globe and Mail, CBC, Canadian Press and the Financial Post use the same long business terms as the press release, like “senior secured revolving asset-based loan facility”, but from what my business-challenged mind can gather, there’s another deadline coming on June 15, when the company has to present a restructuring plan.