Pursuits
Miramax Said to Market ABS Deal Tied to Movie Catalog
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Miramax plans to sell $250 million of securities linked to film rights and contracts tied to movies including “Pulp Fiction” and “Shakespeare in Love,” according to a person familiar with the offering.
The production company is issuing securities rated BBB+ by Standard and Poor’s and maturing in 3.4 years, said the person, who asked not to be identified because the deal isn’t public. The debt may be sold to yield as much 250 basis points, or 2.5 percentage points, more than the benchmark interest rate. That equates to a yield of about 3.6 percent.