Lions Gate seeks consents to issue up to $150 million more 10¼% notes

By Angela McDaniels

Tacoma, Wash., May 6 - Lions Gate Entertainment Inc. began a consent solicitation for its $236 million of outstanding 10¼% senior secured second-priority notes due 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company is soliciting consents to make amendments to the note indenture that would allow it to issue up to $150 million of additional notes with the same terms as the existing notes except for the issue date, issue price and first interest payment.

The company's obligation to accept and pay for consents delivered in the consent solicitation is subject to the receipt of the requisite consents and a financing condition.

The filing did not disclose the consent fee or the consent deadline.

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

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