Cinemark Announces the Successful Amendment of its Senior Secured Credit Facilities
PLANO, Texas--(BUSINESS WIRE)-- Cinemark Holdings, Inc. (NYSE: CNK) today announced the successful amendment of Cinemark USA, Inc.'s senior secured credit facility, facilitating the extension of the maturity of a portion of the credit facility. As a result of this transaction, (i) the maturity date of approximately $73.5 million of the revolving commitments will be extended from October 5, 2012 to March 2, 2015; and (ii) the maturity date of approximately $924.4 million, or 85% of the Term Loan B loans will be extended from October 5, 2013 to April 30, 2016. Extending revolver and term loan lenders received enhanced pricing of L+300 (from L+150) and L+325 (from L+175), respectively. The original maturity dates and pricing continue to apply to approximately $76.5 million of revolving commitments and approximately $159.2 million of Term Loan B loans.
Barclays Capital served as Sole Lead Arranger on the transaction.
This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Cinemark Holdings, Inc.
About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark is the third largest motion picture exhibitor in the world in terms of both attendance and the number of screens in operation. As of December 31, 2009, Cinemark operated 424 theatres and 4,896 screens in 39 states in the United States and one Canadian province and internationally in 13 countries, including Brazil, Mexico, Chile, Colombia, Argentina, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama and Guatemala. For more information go to www.cinemark.com.
Source: Cinemark Holdings, Inc.
Released March 2, 2010