The bond issue effectively allows Carlton to cash in shares in Thomson Multimedia -- the company to which it sold its Technicolor film processing unit at the end of last year -- four months early.
The cash will give the company some much-needed breathing space in the current advertising and media recession, which has affected Carlton and its ITV partner Granada particularly badly.
The move comes in the week before the company's full-year results, which, if it follows in the footsteps of Granada, could bring a round of bad news.
On Wednesday, Granada posted a 27% increase in losses before interest and tax to £234m.
In addition to the advertising downturn, the companies' loss-making digital platform ITV Digital has been eating away at Carlton and Granada's profits.
The companies have invested £788m in the venture since it launched in 1998 -- double the amount they initially intended because they have been giving away set-top boxes to remain in competition with digital satellite rival Sky.
The companies are said to be looking at ways to reduce significantly the £300m they are forecast to spend on ITV Digital before it breaks even in 2003.
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