Prime Focus announced that a subsidiary of the company, namely, DNEG plc, has announced its intention to commence a private offering of $375 million in aggregate principal amount of senior secured notes due 2025.
DNEG intends to use the net proceeds of the offering, (a) to repay amounts outstanding under its existing term loan facility, its existing revolving loan facility and its Indian financing facilities, (b) to extend a loan to its parent group of companies, (c) to pay related transaction fees and expense, and (d) for general corporate purposes. There can be no assurance that the private offering of Notes will be completed
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