October 5, 2009 (FinancialWire) — Blockbuster Inc. (NYSE: BBI) has closed an offering of $675 million of 11.75 percent senior secured notes due 2014 at an issue price of 94.0 percent. J.P. Morgan Securities (NYSE: JPM) acted as the sole book-running manager.

The company said it will use the net proceeds to repay all indebtedness outstanding under its revolving credit facility and term loan B, its revolving asset-based loan facility in Canada, fund fees and expenses of the transaction and for general corporate purposes.

Blockbuster said that letters of credit outstanding under the revolving credit facility will remain outstanding.

Dallas-based Blockbuster is a global provider of rental and retail movie and game entertainment. The company has around 7,100 stores in the United States, its territories and 19 other countries.

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