Lionsgate announced on Tuesday that it has increased its debt offering by $50 million, TheWrap has learned.
As TheWrap reported exclusively Monday, the studio was seeking $150 million to pay down outstanding debt under the company's senior secured credit facility and for corporate purposes. However, the total raised now stands at $200 million.
The notes will pay interest semi-annually on May 1 and November 1 of each year at a rate of 10.25 percent per year and will mature on November 1, 2016. The Notes will accrue interest from May 1, 2011.
The funds raised will be consolidated with and form a single class with the $236 million raised by the company in 2009.