Cinedigm Digital Cinema has closed a $172.5 million credit facility co-led by Société Générale Corporate & Investment Banking and GE Capital Markets. This new credit facility will refinance all existing senior and mezzanine non-recourse debt in the Company’s Phase 1 deployment subsidiary Christie/AIX through a newly formed bankruptcy remote subsidiary called Cinedigm Digital Funding I LLC. The facility has received a provisional rating of Ba1 from Moody’s Investor Service. The new credit facility will replace the Company’s credit facility led by GE Capital Markets in 2006. “We are very pleased to complete this refinancing and to have a provisional rating of Ba1 by Moody’s “ says Bud Mayo chairman and CEO of Cinedigm. “This successful refinancing of our existing debt reaffirms the value of the Phase 1 digital cinema asset base and the critical role Cinedigm plays in driving the exhibition industry’s conversion to digital cinema.” Adam M. Mizel CFO and chief strategy officer of Cinedigm says “This refinancing marks the next step in our efforts to strengthen Cinedigm’s balance sheet to improve our access to capital and to continue to position the Company for growth. We appreciate the strong capital markets execution and lending support from our long time partners at Société Générale and GE Capital.“ “We are excited to have successfully delivered institutional investor commitments for the refinancing of Cinedigm’s Phase 1 digital cinema deployment ” says Richard Knowlton managing director Sociéte Générale leveraged media and telecom finance. “Together with GE Capital we have expanded funding options for the Company’s current and future digital cinema rollouts.” Michael Rhea vice president GE Capital media communications and entertainment says “GE Capital is a long-time supporter of the exhibition industry and of digital cinema. We are pleased to be helping Cinedigm with their Phase 1 refinance and look forward to continuing our strong relationship.” GE Capital www.ge.com Société Générale Group http://www.sgcib.com
