Lionsgate is set to raise $1 billion via a bond sale, saying it will use the proceeds to repay outstanding debt. In an SEC filing on Tuesday, the studio said a subsidiary, Lions Gate Capital Holdings LLC, will offer up to $1 billion in new senior notes via a private placement.
The subsidiary intends to use the proceeds of the bond sale to redeem near-term debt and specifically 6.375 percent senior notes due 2024 and 5.875 percent senior notes due 2024.
Lionsgate's latest debt raise comes as the studio looks to grow the worldwide reach of Starz, its premium cable channel now driving into the streaming space via the acquisition and production of original content.
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