Daily News: August 22, 2014

Miramax Completes Securitization; Barclays Provides Revolver

Miramax Film NY announced the successful completion of the company’s film library asset-backed notes offering in a securitization transaction that included the issuance of $250 million aggregate principal amount of 3.34% notes due 2026, as well as a $25 million revolving credit facility, which was undrawn at closing.

Miramax said Barclays served as the sole structuring advisor and sole bookrunner for the securitization, and as the sole lender for the revolving credit facility.

Net proceeds from the sale of the notes will be used for the repayment of all outstanding indebtedness under the 2011 note issuance and general corporate purposes, including investment in new film and television production.