Lionsgate Prices $200 Million Notes Issue

6:02 AM PST 05/10/2011 by Etan Vlessing

Latest debt issue from mini-studio comes a day after Lionsgate signaled that its fiscal 2011 revenue will miss analyst estimates.

Toronto – Lionsgate has unveiled a $200 million private debt issue of 10.25 percent senior secured notes due 2016.

The latest debt issue comes a day after Lionsgate revealed a 2011 revenue outlook that will miss analyst estimates.

Vancouver-based Lionsgate said it expects to close the offering on May 13, and use the net proceeds of around $197.2 million to repay outstanding debt under a revolver and for other general corporate purposes.

Lionsgate said it will fold the $200 million notes with $236 million aggregate principal amount of 10.25 percent senior secured notes due November 2016 issued by Lionsgate in October 2009.

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