Starz Prices $500M Senior Notes
Starz, LLC, along with a subsidiary Co-Issuer, announced today the pricing of $500 million principal amount of new 5% Senior Notes due 2019 at par (the “Notes”). The Notes will be senior obligations of the Co-Issuers and will rank pari passu in right of payment with all of the existing and future senior debt of the Co-Issuers. The net proceeds from the offering will be used for general corporate purposes, which will include repayment of indebtedness under Starz' existing senior secured credit facility. The offering is expected to close on or about September 13, 2012, subject to customary closing conditions. Starz, LLC is a wholly-owned subsidiary of Liberty Media Corporation (Nasdaq: LMCA) (NASDAQ: LMCB).
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