Bloomberg: Miramax Raising $550M With $142M For Dividend To Colony Capital

The studio had already stated in October it really wants to re-finance a lot of your debt adopted last December when investor Ron Tutor, and Tom Barrack’s Colony Capital, compensated Disney $660M for Miramax. We simply didn’t understand how much it desired to raise and in which the cash would go. But Bloomberg states that a couple “with understanding from the situation” have revealed that Miramax intends to sell resource-backed bonds which will allow the organization to make the most of today’s low rates of interest and assume more debt. Additionally, it would be employed to partially pay back the traders. They initially place in $408M, now lower to $308M, and would always keep $100M at Miramax.Colony would take advantage of a $142M dividend.Miramax’s collateral would come with its 700 films and 14 television series in addition to privileges to books and development projects.The organization continues to be busily cutting digital licensingdeals, including one now with Netflix to stream movies within the United kingdom and Ireland.Bloomberg states that Barclays Capital and Jefferies Groupare controlling the text purchase.