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Lions Gate Entertainment Corp (NYSE:LGFa). has increased its senior secured term credit facility to $850 million, according to a recent SEC filing. The facility, initially established at $455 million on September 30, 2024, is secured by intellectual property rights primarily associated with certain library titles.
The credit, arranged by several banks including Fifth Third Bank as the administrative agent, will mature on September 30, 2029, with quarterly principal payments starting February 14, 2025.
The credit facility, referred to as the LG IP Credit Facility, underwent an amendment and restatement on November 5, 2024, to include an additional Borrower Subsidiary and raise the maximum principal amount to $720 million. The recent amendment on Monday increased the facility to its current amount. The advances under the LG IP Credit Facility will bear interest at a rate equal to Term SOFR plus 2.25% per annum.
The news above is based on an SEC filing.
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