Technicolor Refinances its Remaining Debt Maturing 2016/2017

Technicolor Refinances its Remaining Debt Maturing 2016/2017

PARIS, February 5, 2014 /PRNewswire/ --




- EUR181 million: cashless exchange with debt maturing 2020
- EUR85 million: cash repayment by end of April 2014
- 100% of debt with final maturity in 2020 with simplified structure


Technicolor (Euronext Paris: TCH) announces today that it has seized an opportunity to
refinance part of its remaining senior secured debt maturing in 2016 and 2017 (EUR181
million) and that it will subsequently reimburse the rest of this debt (EUR85 million).



(Logo:
http://photos.prnewswire.com/prnh/20140109/663189 )




Technicolor has refinanced EUR181 million ($75 million and EUR126 million) of senior
secured debt maturing in 2016 and 2017 through an exchange into new debt maturing in 2020
on terms identical to the term loans borrowed in July 2013. This transaction generates
small interest savings and more importantly further improves the maturity profile of
Technicolor's debt. The incremental term loans have been subscribed by certain lenders in
consideration for the assignment of their participations under the Technicolor senior
secured debt via a cashless exchange.



In addition to this exchange, Technicolor expects to fully reimburse the remainder of
its senior secured debt maturing in 2016 and 2017 (EUR85 million) out of its cash by the
end of April 2014 to reduce gross debt and lower its interest costs. The foregoing will
also allow the Group to further simplify its debt structure and increase its financial
flexibility.



Gross Debt pro-forma for exchange and prepayment in cash




Nominal basis (in EURmillion)
Gross debt as of end of Dec. 31, 2013
(unaudited) 1,092
o/w Gross debt maturing 2016/2017 266
o/w Gross Debt maturing 2020 792
o/w other debt 34
Cashless exchange 181
Cash repayment 85
Gross Debt pro-forma for exchange and
prepayment in cash as of end of April 2014 1,007
o/w Gross debt maturing 2016/2017 0
o/w Gross Debt maturing 2020 973
o/w other debt 34


Technicolor will publish its full year 2013 earnings before market opening on
Thursday, February 20, 2014.



Warning: Forward Looking Statements



This press release contains certain statements that constitute "forward-looking
statements", including but not limited to statements that are predictions of or indicate
future events, trends, plans or objectives, based on certain assumptions or which do not
directly relate to historical or current facts. Such forward-looking statements are based
on management's current expectations and beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from the future results
expressed, forecasted or implied by such forward-looking statements. For a more complete
list and description of such risks and uncertainties, refer to Technicolor's filings with
the French Autorite des marches financiers.



About Technicolor



Technicolor, a worldwide technology leader in the media and entertainment sector, is
at the forefront of digital innovation. Our world class research and innovation
laboratories enable us to lead the market in delivering advanced video services to content
creators and distributors. We also benefit from an extensive intellectual property
portfolio focused on imaging and sound technologies, based on a thriving licensing
business. Our commitment: supporting the delivery of exciting new experiences for
consumers in theaters, homes and on-the-go.



Euronext Paris: TCH http://www.technicolor.com






Photo:
http://photos.prnewswire.com/prnh/20140109/663189


Photo:http://photos.prnewswire.com/prnh/20140109/663189
http://photoarchive.ap.org/
Technicolor

CONTACT: Contacts: Press: +33 1 41 86 53 93, technicolorpressoffice@technicolor.com. Investor relations: +33 1 41 86 55 95, investor.relations@technicolor.com


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