Christie/AIX launches $217 million delayed-draw loan at Libor plus 450 bps

By Sara Rosenberg

New York, April 27 - Christie/AIX, a subsidiary of Access Integrated Technologies Inc., launched its $217 million two-year delayed-draw term loan to investors with drawn price talk of Libor plus 450 basis points and an unused fee of 50 basis points, according to a market source.

The deal is being marketed to banks, not the institutional loan market, the source added.

General Electric Capital Corp. is the lead bank on the deal, which launched with a bank meeting on Wednesday.

Proceeds will be used for future capital equipment outlays contemplated under an ongoing 4,000-screen digital cinema rollout for which Christie/AIX is the funding vehicle and administrator.

Access Integrated Technologies is a Morristown, N.J., storage and electronic delivery service for owners and distributors of digital content to movie theaters and other venues.

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