United States : Cinedigm Digital Cinema Corp. Receives Commitment Letters for 5-Year, Senior Credit Facilities From GE Capital and Societe Generale.Byline: babalu03 Cinedigm Digital Cinema Corp. ("Cinedigm") (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CIDM CIDM Customer Integrated Decision Making CIDM Certified Insurance Data Manager CIDM Collaborative Identity Management CIDM Cisco Intrusion Detection Module CIDM Community-Initiated Decision-Making CIDM Center for International Development and Conflict Management ) today announced its non-recourse deployment subsidiary, Access Digital Cinema Phase 2 Corp. ("Phase 2"), has received commitment letters from GE Capital's Media, Communications & Entertainment business and Societe Generale Corporate & Investment Banking for senior credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities totaling up to $100 million. Once closed, these facilities will support the deployment of up to 2,133 digital systems in 2010 as contemplated under Cinedigm's ongoing 10,000-screen digital cinema rollout. Cinedigm anticipates the closing of this new loan facility, together with support from digital cinema equipment vendors Christie Digital Systems and Barco, Inc. (NYSE Euronext For other uses of "NYX", see NYX (disambiguation). NYSE Euronext, Inc. (NYSE: NYX, Euronext: NYX) (formerly NYSE Group, Inc.) is a for-profit corporation that operates multiple securities exchanges, most notably the New York Stock Exchange (the "Big Board"), Brussels: BAR), by December 31, 2009 with installations targeted to commence in early 2010. GE Capital's commitment covers the financing of up to about 1,600 digital systems and Societe Generale's commitment covers the financing of up to an additional 533 digital systems. "We are excited to announce two significant financing commitments to support the transition of the exhibition industry to digital cinema," commented Adam M. Mizel, CFO See Chief Financial Officer. and Chief Strategy Officer of Cinedigm. "We look forward to continuing the partnership we began with GE Capital and Christie in our Phase 1 deployments and welcome the opportunity to work more closely with Barco as well. We believe GE Capital's and Societe Generale's commitments are a milestone and will enable exhibitors to take advantage of the significant benefits of digital cinema." Bud Mayo, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cinedigm, added, "Cinedigm has and will continue to be a key partner to exhibitors, movie studios, vendors and lenders in the digital conversion process. We look forward to the opportunity to work with exhibitors to deploy up to 2,133 screens with this financing in 2010. Given the pipeline of 3-D movie releases and alternative content, there has never been a better time to capitalize on the opportunities of digital cinema." Michael Rhea rhea, in zoology rhea (rē`ə), common name for a South American bird of the family Rheidae, which is related to the ostrich. Weighing from 44 to 55 lb (20–25 kg) and standing up to 60 in. , Vice President, GE Capital, Media, Communications & Entertainment, commented, "GE Capital is a long term supporter of the exhibition industry and of Cinedigm. We look forward to our future success together." Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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