Brief: Technicolor Creative Studios Provides Update On Refinancing

Technicolor Creative Studios SA

09/06/2023 07:06

June 9 (Reuters) - Technicolor Creative Studios Sa
 TCHCS.PA :
    * TECHNICOLOR CREATIVE STUDIOS: UPDATE ON THE COMPANY'S
REFINANCING
    * AVAILABILITY OF SECOND TRANCHE OF REFINANCING FOR AN
AGGREGATE
PRINCIPAL AMOUNT OF 85,000,000 EUROS
    * ALSO ALLOCATED YESTERDAY 501,125,088 WARRANTS GIVING THE
RIGHT
TO SUBSCRIBE TO A MAXIMUM NUMBER OF 501,125,088 NEW SHARES, AT A
PRICE OF ONE EURO CENT (0.01 EURO) PER NEW SHARE TO THE NEW
MONEY LENDERS
    * FINALIZED AND SIGNED YESTERDAY SUBORDINATED DEBT AGREEMENT
UNDER
WHICH A PORTION OF FIRST LIEN FACILITY OF C. 621 MILLION IS
CONVERTED INTO A SUBORDINATED INSTRUMENT STAPLED WITH FIRST LIEN
FACILITY FOR A TOTAL AMOUNT OF C. 170 MILLION EUROS
    * COMPANY YESTERDAY CONVERTED INTO EQUITY PART OF
RECEIVABLES HELD
BY LENDERS UNDER FIRST LIEN FACILITY, FOR A TOTAL AMOUNT OF
29,999,999.88 EUROS

Source text for Eikon:  ID:nGNE9qkd80 
Further company coverage:  TCHCS.PA 

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