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Movie Gallery completes refinancing


Published : Fri, 09 Mar 2007 15:08
By : Agencies
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DOTHAN, Ala. (AP) - Movie Gallery Inc. said Friday it completed the refinancing of an existing $900 million senior secured credit facility.

The company expects the new credit facility to result in more than $6 million of annual cash interest savings. Total cash available under the new facility was more than $127 million as of the close of the deal.

Goldman Sachs Credit Partners LP acted as sole lead arranger for the new credit facility.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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