MUMBAI: Toronto-based Asian Television Network (ATN) has announced that the company's debenture holders have agreed to the extension and repayment plan agreement of its million dollar debenture for a further period of three years. The debenture will now be due on 9 June 2005.

"The debenture holders have recognized our outstanding growth in revenue and earnings over the past three years and have extended this debenture for a further three years to June 2008," said an official release quoting ATN CEO and president Shan Chandrasekar.

"With this agreement ATN will continue to present an improving balance sheet for our investors with future pay-down of a significant portion of the debenture principal and the transfer of this debt to long-term." said ATN CFO Byrne Fulton.

ATN, a publicly traded company listed on the Toronto Venture Exchange, owns and operates five television channels across Canada. It has programming alliances with broadcasters such as ZEE TV, B4U, Sony Entertainment Television, Alpha Punjabi, Jaya TV and ARY Digital.