TECHNICOLOR : Successful partial refinancing of existing Term Loan due July 2020
(Thomson Reuters ONE) -
PRESS RELEASE
Successful partial refinancing of existing Term Loan due July 2020
Paris (France), 6 December 2016 - Technicolor (Euronext Paris: TCH; OTCQX:
TCLRY) successfully closed today its new Term Loan issue transaction launched in
mid-November.
Technicolor raised ?450 million of 7-year Senior Secured Term Loan B rated
Ba3/BB- in line with its existing term loans, but on a covenant-lite basis.
Proceeds have been used to partially refinance its existing term loans due
2020, in particular the U.S. dollar portion.
The new facility was upsized in-market from ?250 to ?450 million and has a
margin of 350 basis points over Euribor with a 0% floor.
***
About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment
sector, is at the forefront of digital innovation. Our world class research and
innovation laboratories enable us to lead the market in delivering advanced
video services to content creators and distributors. We also benefit from an
extensive intellectual property portfolio focused on imaging and sound
technologies. Our commitment: supporting the delivery of exciting new
experiences for consumers in theaters, homes and on-the-go.
www.technicolor.com - Follow us: (at)Technicolor - linkedin.com/company/technicolor
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in
the USA on the OTCQX marketplace (OTCQX: TCLRY).
Investor Relations
Emilie Megel: +33 1 41 86 61 48
emilie.megel(at)technicolor.com
Christophe Le Mignan: +33 1 41 86 58 83
christophe.lemignan(at)technicolor.com
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TECHNICOLOR via GlobeNewswire
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