 To make matters worse, with limited revenue from advertising, the sale to Hallmark left Univision with a huge debt load to cover.On February 1, 1990, Univision Holdings disclosed that it had failed to make an interest payment of about $10 million (totaling about $3 million to be paid to its bank lenders and about $7 million to holders of its junk-bond debt) that was due a day prior as part of its efforts to restructure its debt, citing insufficient cash flow for the missed payments.At the time, Univision had owed about $315 million to a group of banks led by Continental Bank of Chicago, about $135 million in senior subordinated zero-coupon debt and $105 million in 13 3/8% in outstanding subordinated debentures.