Lions Gate greenshoe exercised, raising convertibles to $150 million

Pittsburgh, Oct. 4 - Lions Gate Entertainment Corp. said the underwriters of its recent offering of 2.9375% convertible senior subordinated notes due 2024 exercised the $25 million over-allotment option in full, raising the size of the deal to $150 million.

The Santa Monica, Calif.-based motion picture production company originally priced $125 million of the securities Sept. 28 to yield 2.9375% with a 36.5% initial conversion premium.

SG Cowen & Co. was the lead manager for the Rule 144A deal.

Lions Gate will use proceeds to repay outstanding amounts under its existing U.S.-dollar bank revolving credit facility and term loan and for other general corporate purposes, including the financing of a portion of any future acquisitions.

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