White & Case advises Lionsgate noteholders on US$390 million notes exchange

Global law firm White & Case LLP has advised an ad hoc group of unsecured noteholders of Lions Gate Capital Holdings LLC, a subsidiary of Lions Gate Entertainment Corp. ("Lionsgate"), on a successful notes exchange (the "Exchange"). Noteholders representing a majority of Lions Gate Capital Holdings LLC's outstanding 5.500% Senior Notes due 2029 (the "Existing Notes") participated in the Exchange, which settled on May 8, 2024.

Leading investment funds represented by the Firm exchanged US$390 million in aggregate principal amount of the Existing Notes for New Notes issued by Lions Gate Capital Holdings 1, Inc. (the "New Notes"). The New Notes will facilitate the anticipated full separation of Lionsgate's Studio Business and STARZ Business, and the Exchange enhances the balance sheets of both the Studio Business and the STARZ Business.

The White & Case team was led by Financial Restructuring and Insolvency partners Harrison Denman and Andrew Zatz (both in New York) and Capital Markets partners Jonathan Michels and Andrew Weisberg (both in New York); and included M&A partner Adam Cieply; Capital Markets associates Annie Serafim (Boston) and Jeffrey Kim (New York); and Financial Restructuring and Insolvency associate Kyle Ferrier (Miami). 

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