STARZ ENTERTAINMENT CORP /CN/ (STRZ): debt financing — Lions Gate completes $389.9M private exchange of 5.5% senior notes for new 5.5% notes due 2029

STARZ ENTERTAINMENT CORP /CN/

Exchanged $389.9M of 5.5% senior notes due 2029 for new 5.5% notes due 2029 issued by LGCH1.
Upon separation of Studio and STARZ, interest rate on new notes rises to 6% and maturity extends to April 15, 2030.
New notes initially guaranteed by existing obligors; after separation solely by Studio Business entities.
Supplemental indenture amended existing notes to remove restrictive covenants and default events.
Transaction facilitates planned separation of Studio and STARZ businesses.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STARZ ENTERTAINMENT CORP /CN/ incurred senior notes of $389,861,000 with U.S. Bank Trust Company, National Association at 5.500% per annum maturing April 15, 2029.

Instrument: senior notes
Principal: $389,861,000
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.500% per annum
Maturity: April 15, 2029
Event: incurrence

Exact text from the filing

”), Lions Gate Entertainment Corp. (the “ Company ”) and certain of its subsidiaries completed the previously announced private exchange, pursuant to which the parties exchanged $389,861,000 aggregate principal amount of 5.500% senior notes due 2029 (the “ Existing Notes ”) for $389,861,000 aggregate principal amount of new 5.500% exchange notes due 2029 (the “ New

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Source: SEC EDGAR

accession 0001193125-24-134381

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