Cinram International Income Fund announced that it has achieved 99.2% lender support for its previously announced proposed refinancing and recapitalization transaction.
For more information visit: www.cinram.com
Unedited press release follows:
CINRAM ANNOUNCES LENDER SUPPORT FOR REFINANCING PLAN
TORONTO, Feb. 11 – Cinram International Income Fund (together with its subsidiaries where applicable, “Cinram” or the “Fund”) announced today that it has achieved 99.2% lender support for its previously announced proposed refinancing and recapitalization transaction (the “Refinancing and Recapitalization”).
The key changes to Cinram’s capital structure under the Refinancing and Recapitalization were disclosed in the Fund’s January 25, 2011 press release. Cinram is proceeding in accordance with the processes contemplated in the consent and support agreements with its lenders toward implementation of the Refinancing and Recapitalization.
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is one of the world’s largest providers of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram now also provides distribution and logistics services to the telecommunications industry in North America through its wireless subsidiaries. The Fund’s units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at www.cinram.com.