PARIS, Dec. 06, 2016 (GLOBE NEWSWIRE) -- 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.
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.
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (OTCQX: TCLRY).
Emilie Megel: +33 1 41 86 61 48
Christophe Le Mignan: +33 1 41 86 58 83