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Blockbuster to Begin $300M Debt Offering to Institutional Investors

3 Aug, 2004 By: Holly J. Wagner


Blockbuster will begin an offering of up to $300 million in debt to institutional investors to fund the special dividend to shareholders promised ahead of its spinoff from Viacom.

The offering would reduce Blockbuster's previously announced commitment for a new $1.45 billion credit facility to $1.15 billion.

The senior subordinated notes due in 2012 would be general unsecured obligations of Blockbuster offered to institutional investors and would be subordinated to all of its existing and future senior debt.

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