Lions Gate buys back, reissues $10 million of 10¼% notes due 2016

By Angela McDaniels

Tacoma, Wash., Nov. 9 - Lions Gate Entertainment Inc. repurchased $10 million principal amount of its 10¼% senior secured second-priority notes due 2016 in August, according to a 10-Q filing with the Securities and Exchange Commission.

The company paid $9.9 million to repurchase the notes, which is the same as their carrying value.

In September, the company then reissued the $10 million of notes at 99 plus accrued interest from May 1, resulting in $10.2 million of proceeds.

As of Sept. 30, $436 million of the notes were outstanding. They had a net carrying amount of $431.16 million.

The company issued $236 million of the notes at 95.222 on Oct. 22, 2009 and another $200 million at 102.219 on May 13.

The company is a Santa Monica, Calif.-based subsidiary of Lions Gate Entertainment Corp., which is a filmed entertainment studio with headquarters in Vancouver, B.C.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.