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Lions Gate Entertainment Prices $236 Million Of Notes

Oct 19, 2009 (FinancialWire via COMTEX) --

Company: Lions Gate Entertainment Corp. (LGF)

(Comment on this article at http://www.financialwire.net/2009/10/19/lions-gate-entertainment-prices-236-million-of-notes/)

October 19, 2009 (FinancialWire) -- Lions Gate Entertainment (NYSE: LGF) said it has entered into an agreement to sell $236.0 million of senior secured second-priority notes due 2016 in a private offering. The company plans to close the offering on October 21.

The notes will pay interest semi-annually on May 1st and November 1st of each year at a rate of 10.25% per year and will mature on November 1, 2016. They will be guaranteed on a senior secured basis by the company and by all of LGEI's restricted subsidiaries that guarantee any of LGEI's indebtedness or indebtedness of any guarantor, including LGEI's revolving senior secured credit facility.

In addition, each of the company's first-tier subsidiaries that guarantees any indebtedness or guarantees of indebtedness of LGEI or any other guarantor, including LGEI's senior secured credit facility, will also guarantee the company's guarantee of the notes.

The notes will be issued by LGEI at an initial price of 95.222% of the principal amount, with the company seeing net proceeds of around $215.1 million.

Lions Gate plans to use the funds to repay a portion of its outstanding debt under its revolving senior secured credit facility.

Vancouver-based Lionsgate is a studio with a presence in the production and distribution of motion pictures, television programming, home entertainment, family entertainment, video-on-demand and digitally delivered content.

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Company: Lions Gate Entertainment Corp. (LGF)


Related terms: debt, entertainment, family, nyse, prices, programming, studio, television, vancouver, video, web

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