Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Cinedigm Advances on $195 Million Debt Refinancing

Cinedigm Digital Cinema Corp., a company that provides theaters with digital projection, advanced the most in more than six months after announcing $195 million in new credit facilities to reduce borrowing costs.

The stock gained 9.5 percent, or 13 cents, to $1.50 at the close in New York, the biggest one-day jump since Aug. 20. The shares have risen 7.1 percent this year, while the Nasdaq Composite Index has added 5 percent.

Cinedigm, which has a library of 5,000 titles, is diversifying beyond financing digital conversions with ventures to transmit live entertainment in theaters and distribute independent films to cinemas and home-video services. The new financing will lower borrowing costs, Cinedigm’s Chief Executive Officer Chris McGurk said in a statement.

The debt will be secured by fees Cinedigm earns from cinemas for converting theaters to digital projection from film, the company said.

The refinancing includes a $125 million credit facility led by Societe Generale Corporate & Investment Banking and $70 million from Prospect Capital Corp., according to the statement.

The two facilities replace existing debt and lower the initial average borrowing costs by as much as 3 percent, the company said.

Cinedigm, with a market value of about $75 million, has seen its shares drop from a peak of $14.59 in May 2006.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.