Miramax proposes refinancing plan

Miramax features an idea to re-finance its outstanding debt.Company is going to do an resource-backed securitization -- while using the library and receivables to problem notes to traders.With different release, Miramax hopes to seal the sale by fourth quarter of 2011."The Miramax film library securitization is prone to market together with other concerns, so there can be no assurance that it's going to be completed on terms that are acceptable to Miramax or whatsoever," the business mentioned in the statement. Contact Rachel Abrams at Rachel.Abrams@variety.com