Lions Gate enters into new $800M credit facility
SANTA MONICA, Calif. (AP) — Lions Gate Entertainment Corp. said Thursday that it entered into a new five-year, $800 million revolving credit facility.
The Santa Monica, Calif.-based movie and TV studio said the new facility will help it grow, capitalize on strategic opportunities and meet long-term financial goals.
JPMorgan Chase Bank NA served as the facility's administrative agent. The new facility replaces Lions Gate's previous $340 million revolving credit facility.
Lions Gate shares rose 10 cents to $14.84 in afternoon trading. They are still 8 percent below their 52-week high of $16.19 in mid-March.