secwatch.observer — SEC 8-K summary
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Issuer:     STARZ ENTERTAINMENT CORP /CN/ (STRZ)
CIK:        0000929351
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001193125-24-134381
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lions Gate completes $389.9M private exchange of 5.5% senior notes for new 5.5% notes due 2029
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/929351/000119312524134381/0001193125-24-134381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/929351/000119312524134381/d819229d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-134381

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer