Live Entertainment Sells Short-Term Notes
Live Entertainment Inc. said it has privately sold $37 million in 12% short-term notes to unidentified investors.
Live, a Van Nuys-based concern that distributes home videos and operates music stores, said the new notes, which mature in September, 1994, would refinance a $20-million credit facility that had been provided to the company by Pioneer North America Inc.
The note sale, together with a $30-million existing credit line from the company’s bank group led by Chemical Bank, means Live now has $67 million in credit available, the company said.
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