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Cinemark extends $73.5 million of revolver, $924.4 million of B loan
By Sara Rosenberg
New York, March 2 - Cinemark Holdings Inc.'s credit facility amendment resulted in the extension of $73.5 million of revolver commitments to March 2, 2015 from Oct. 5, 2012 and $924.4 million of term loan B commitments to April 30, 2016 from Oct. 5, 2013, according to a news release.
The original maturity dates and pricing continue to apply to $76.5 million of revolver commitments and $159.2 million of term loan B debt.
As was previously reported, under the amendment, the extended term loan B is priced at Libor plus 325 basis points, up from the initially proposed Libor plus 275 bps. Pricing on the non-extended term loan B is Libor plus 175 bps.
In addition, the extended term loan B has 101 soft call protection for one year.
Also, the extended revolver is priced at Libor plus 300 bps, up from the initially proposed Libor plus 250 bps. Pricing on the non-extended revolver is Libor plus 200 bps.
Lenders were offered a 10 bps consent fee.
Barclays led the amendment.
Cinemark is a Plano, Texas-based motion picture exhibitor.
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