Alliance Atlantis Communications to redeem 13% notes, refinance revolver with loan proceeds

Pittsburgh, Oct. 19 - Alliance Atlantis Communications Inc. will use proceeds from new up to C$150 million term loan A and up to C$350 million term loan B to redeem $300 million of its outstanding 13% senior subordinated notes due 2009 and to refinance any outstanding balance on its existing C$300 million revolving credit facility, according to a company news release.

The first call date on the notes is Dec. 15.

The company expects substantial interest savings from the early redemption, the release said.

The term loan A and B are part of a new fully underwritten financing commitment from Merrill Lynch & Co., Royal Bank of Canada and The Toronto Dominion Bank as joint lead arrangers and joint bookrunners.

Alliance Atlantis is a Toronto-based broadcaster, creator and distributor of filmed entertainment.

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