Miramax proposes refinancing plan

Miramax has announced a plan to refinance its outstanding debt.Company will conduct an asset-backed securitization -- using the library and receivables to issue notes to investors.According to a release, Miramax hopes to close the deal by fourth quarter of 2011."The Miramax film library securitization is subject to market and other conditions, so there can be no assurance that it will be completed on terms that are satisfactory to Miramax or at all," the company said in a statement. Contact Rachel Abrams at Rachel.Abrams@variety.com