Magazine article Screen International

Miramax Secures $250M Re-Finance

Magazine article Screen International

Miramax Secures $250M Re-Finance

Article excerpt

Chairman Thomas J Barrack Jr said the movie reflected "stability and maturity" as top brass seek to grow the development and production business.

The securitisation included the issuance of a $250m aggregate principal amount of 3.34% of film library asset-backed notes offering due in 2026, as well as a $25m revolving credit facility.

It is understood the Santa Monica-based company has no immediate plans to use the credit funds until required.

"This refinancing reflects the stability and maturity of Miramax as an operating company and represents the next step in the company's evolution," said Barrack Jr.

"We appreciate that the market recognises Miramax's quality of content, combined with the consistency, length, diversity and credit quality of contractual income streams, and we look forward to putting these additional funds to work as we grow new production in line with the powerful Miramax brand. …

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