Lionsgate in its $383 million exchange agreement

On May 2, 2024, Lions Gate Entertainment Corp. announced that it has entered into an exchange agreement with a group of majority noteholders holding approximately $383 million of its outstanding 5.5% senior notes due 2029.  Pursuant to the terms and conditions of the agreement, the noteholder parties have agreed to exchange their existing notes for new 5.5% exchange notes due 2029 in a private exchange transaction.  The terms of the exchange notes provide that the interest rate will increase to 6% and the maturity will extend to 2030 upon a full separation of Lions Gate’s Studio and STARZ businesses.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Lionsgate.