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Lions Gate Entertainment Corp (NYSE:LGFa). (NYSE:LGF.A) (NYSE:LGF.B) has increased the maximum principal amount of its senior secured term credit facility to $1 billion, according to a recent 8-K filing with the Securities and Exchange Commission. The credit facility, which is secured by intellectual property rights from certain library titles, was initially set at $455 million as of September 30, 2024.
The facility, known as the LG IP Credit Facility, is secured by unsold rights from library titles and requires quarterly payments starting February 14, 2025, with the remaining balance due at maturity on September 30, 2029. Interest on advances under the credit facility is set at Term SOFR plus 2.25% per annum.
Amendments to the original agreement have been made to include an additional Borrower Subsidiary and to increase the credit line. The latest amendment, dated March 31, 2025, brought the total available principal to $1 billion.
In other news, Lions Gate has been notified by the New York Stock Exchange of non-compliance with the exchange’s listing standards due to not having held an annual shareholders’ meeting during the fiscal year. The company is scheduled to hold its annual meeting on April 23, 2025, which is expected to bring it back into compliance. Until then, a below compliance indicator will be appended to the company’s ticker symbols.
This report is based on statements from a press release and provides an overview of the financial arrangements and regulatory compliance status of Lions Gate Entertainment Corp.
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