Weinstein Co. restructures debt by giving up 200 films to Goldman Sachs

Weinstein Co. restructures by giving up 200 films

LOS ANGELES — Independent movie studio The Weinstein Co. has restructured its debt. It’s giving the rights to 200 films and about $233 million in receivables to Goldman Sachs and its partner Assured Guaranty.

Details come from a person familiar with the matter. The person spoke on condition of anonymity because the matter was meant to be confidential.

The deal finalized this week will also see Goldman Sachs paid $115 million by Ambac Financial Group, which had initially insured Goldman Sachs’ loan to the company.

The Weinstein Co. was weighed down by interest payments on about $500 million in debt.

The deal frees the company of that debt and gives it the use of a new credit line.

The deal was reported earlier by The Wall Street Journal and website The Wrap.