11 unchanged sentences
The applicable margin with respect to loans under the revolving credit facility and Term Loan A is a percentage per annum equal to SOFR plus 0.10% plus 1.75% margin.
−Removed: The applicable margin with respect to loans under our Term Loan B is a percentage per annum equal to SOFR plus 0.10% plus 2.25% margin.
Advances under the eOne IP Credit Facility and LG IP Credit Facility bear interest at a rate equal to Term SOFR plus 2.25% per annum.
−Removed: Assuming the revolving credit facility is drawn up to its maximum borrowing capacity of $1.25 billion, based on the applicable SOFR in effect as of September 30, 2024, each quarter point change in interest rates would result in a $1.7 million change in annual net interest expense on the revolving credit facility, Term Loan A, Term Loan B, eOne IP Credit Facility, LG IP Credit Facility and interest rate swap agreements.
+Added: Assuming the revolving credit facility is drawn up to its maximum borrowing capacity of $1.25 billion, based on the applicable SOFR in effect as of December 31, 2024, each quarter point change in interest rates would result in a $6.0 million change in annual net interest expense on the revolving credit facility, Term Loan A, eOne IP Credit Facility, LG IP Credit Facility and interest rate swap agreements.
The variable interest film related obligations (which includes our production loans, programming notes, Production Tax Credit Facility, Film Library Facility, Backlog Facility and other) incur primarily SOFR-based interest, with applicable margins ranging from 0.25% to 3.25% per annum.
A quarter point increase of the interest rates on the variable interest film related obligations would result in $3.3 million in additional costs capitalized to the respective film or television asset for production loans and programming notes (based on the outstanding principal amount of such loans), and a $1.6 million change in annual net interest expense (based on the outstanding principal amount of such loans, and assuming the Production Tax Credit Facility and Backlog Facility are utilized up to their maximum capacity of $260.0 million and $175.0 million, respectively).
−Removed: At September 30, 2024, our 5.5% Senior Notes and Exchange Notes had an outstanding carrying value of $698.2 million, and an estimated fair value of $581.4 million.
−Removed: A 1% increase in the level of interest rates would decrease the fair value of the 5.5% Senior Notes by approximately $21.5 million, and a 1% decrease in the level of interest rates would increase the fair value of the 5.5% Senior Notes by approximately $22.8 million.
+Added: At December 31, 2024, our 5.5% Senior Notes and Exchange Notes had an outstanding carrying value of $699.1 million, and an estimated fair value of $604.9 million.
+Added: A 1% increase in the level of interest rates would decrease the fair value of the
+Added: 5.5% Senior Notes by approximately $21.6 million, and a 1% decrease in the level of interest rates would increase the fair value of the 5.5% Senior Notes by approximately $22.6 million.
The following table presents information about our financial instruments that are sensitive to changes in interest rates.
−Removed: The table also presents the cash flows of the principal amounts of the financial instruments, or the cash flows associated with the notional amounts of interest rate derivative instruments, and related weighted-average interest rates by expected maturity or required principal payment dates and the fair value of the instrument as of September 30, 2024:
−Removed: Six Months Ending March 31, Year Ending March 31, Fair Value
−Removed: 2025 2026 2027 2028 2029 Thereafter Total September 30,
+Added: The table also presents the cash flows of the principal amounts of the financial instruments, or the cash flows associated with the notional amounts of interest rate derivative instruments, and related weighted-average interest rates by expected maturity or required principal payment dates and the fair value of the instrument as of December 31, 2024:
+Added: Three Months Ending March 31, Year Ending March 31, Fair Value
+Added: 2025 2026 2027 2028 2029 Thereafter Total December 31,
(Amounts in millions)
6 unchanged sentences
Average Interest Rate — — 6.18 % — — —
−Removed: Term Loan B (1)
−Removed: 250.0 — — — — — 250.0 249.7
−Removed: Average Interest Rate 7.20 % — — — — —
eOne IP Credit Facility (1)
14 unchanged sentences
(2) Represents amounts outstanding under film related obligations (i.e., production loans, Production Tax Credit Facility, programming notes, Backlog Facility and other, and Film Library Facility), actual amounts outstanding and the timing of expected future repayments may vary in the future (see Note 7 to our unaudited condensed consolidated financial statements for further information).
−Removed: (3) Represents interest rate swap agreements on certain of our SOFR-based floating-rate debt with fixed rates paid ranging from 2.723% to 4.045% with maturities in March 2025, August 2026 and September 2026.
+Added: (3) Represents interest rate swap agreements on certain of our SOFR-based floating-rate debt with fixed rates paid ranging from 3.803% to 4.045% with maturities in August 2026, September 2026 and December 2026.
See Note 17 to our unaudited condensed consolidated financial statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.