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DreamWorks Animation Announces Pricing Of 6.875% Senior Notes Due 2020

GLENDALE, Calif., Aug. 7, 2013 /PRNewswire/ -- DreamWorks Animation SKG, Inc. (Nasdaq: DWA) ("DreamWorks Animation" or the "Company") announced today that it has priced its previously announced private offering of $300 million aggregate principal amount of a new series of senior notes due 2020 (the "Notes"). The Notes will have an interest rate of 6.875% per annum and will be issued at a price equal to 100% of their principal amount.  The Notes will be unsecured, unsubordinated obligations of DreamWorks Animation and will be guaranteed by the Company's existing and future domestic subsidiaries that guarantee the Company's credit facility.  The closing of the offering is expected to occur on or about August 14, 2013, subject to customary closing conditions. 

The Company intends to use the net proceeds of the offering of the Notes to prepay the outstanding loans under its revolving credit facility, including accrued and unpaid interest thereon.  The Company expects to use the additional net proceeds, if any, for general corporate purposes, which may include acquisitions and repurchases of the Company's common stock.

The Notes and the related subsidiary guarantees are being offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 

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