Lions Gate Entertainment Corp. (NYSE:LGF.A) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement.
On December 11, 2017, Lions Gate Entertainment Corp. (the “Company”), entered into Amendment No. 1 (the “Amendment”) to that certain Credit and Guarantee Agreement dated as of December 8, 2016, among the Company, each guarantor party thereto, each lender party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto (the “Existing Credit Agreement” and, as amended by the Amendment, the “Amended Credit Agreement”).
In connection with the Amendment, the Company prepaid in full its existing term b loans (the “Term B Loans”), borrowed refinancing term loans in an aggregate principal amount of $900 million (the “Term B-1 Loans”) and borrowed $25 million under its revolving credit facility.
The Term B-1 Loans bear interest, at the Company’s option, at (i) LIBOR plus 2.25% per annum with a LIBOR floor of 0.75% or (ii) a base rate plus 1.25% per annum. In each case, the applicable margin under the Term B-1 Loans is 0.75% per annum less than the applicable margin under the Term B Loans prior to the Amendment. No further regular amortization is required with respect to the Term B-1 Loans.
The restrictive covenants, maturity dates and events of default in the Amended Credit Agreement are unchanged from the provisions in the Existing Credit Agreement.
The foregoing description of the Amendment is not intended to be complete and is qualified in its entirety by reference
to the Amendment, a copy of which is attached hereto as Exhibit 10.1, and incorporated herein by reference.
Item 1.01Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 above is incorporated by reference into this Item 1.01.
Item 1.01Financial Statements and Exhibits.
Amendment No. 1, dated as of December 11, 2017, to the Credit and Guarantee Agreement dated as of December 8, 2016, among Lions Gate Entertainment Corp., as borrower, each guarantor party thereto, each lender party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties thereto.
LIONS GATE ENTERTAINMENT CORP /CN/ ExhibitEX-10.1 2 ex101amendmentno1tocredita.htm EXHIBIT 10.1 – AMENDMENT NO 1 TO CREDIT AGREEMENT Exhibit Exhibit 10.1AMENDMENT NO. 1AMENDMENT NO. 1,…To view the full exhibit click