RHI Entertainment to repay portion of term loan using IPO proceeds

By Angela McDaniels

Seattle, Sept. 14 - RHI Entertainment, Inc. plans to repay a portion of its $260 million senior secured second-lien term loan due 2014, according to an S-1 filing with the Securities and Exchange Commission.

The company will use some proceeds from its upcoming initial pubic offering of stock to make the repayment. Remaining proceeds will be used to pay fees and expenses in connection with the company's reorganization and for general corporate purposes.

Any repayment of principal on the second-lien credit facility made prior to April 13, 2008 requires a 2% premium on the loans repaid, the company noted.

RHI Entertainment produces made-for-television movies and mini-series and is based in New York.

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