Blockbuster raises $675 million in private placement of senior secured notes

Fri. October 02, 2009; Posted: 02:14 PM

Oct 02, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- BBI | Quote | Chart | News | PowerRating -- Blockbuster, Inc., a US-based provider of in-home movie and game entertainment, has completed a private offering of $675 million aggregate principal amount of 11.75% senior secured notes due 2014 at an issue price of 94%.

Update on September 17, 2009:

Blockbuster has priced an offering of $675 million aggregate principal amount of 11.75% senior secured notes due 2014 at an issue price of 94%.

The company has increased the size of the offering from $340 million to $675 million. The new notes will be issued in a private offering to qualified institutional buyers.

The transaction is expected to complete on or about October 1, 2009.

Announcement (September 14, 2009):

Blockbuster intends to offer up to $340 million aggregate principal amount of senior secured notes due 2014 in a private offering.

J.P. Morgan Securities, Inc. is acting as the sole book-running manager of the notes offering.

Deal Value (US$ Million) 675
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-10-01

Deal Participants

Target (Company)   Blockbuster, Inc.
Acquirer (Company) Undisclosed Investors

Deal Rationale

Blockbuster plans to use the proceeds from the offering to repay all indebtedness outstanding under its revolving credit facility and its revolving asset-based loan facility in Canada, to fund fees and expenses of the transaction, and for general corporate purposes.

For full details on Blockbuster Inc (BBI) click here. Blockbuster Inc (BBI) has Short Term PowerRatings of 3. Details on Blockbuster Inc (BBI) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.