Cinemark amends credit facility to lower pricing, extend maturity

By Marisa Wong

Morgantown, W.Va., Dec. 4 – Cinemark Holdings, Inc. amended on Nov. 28 its amended and restated credit agreement dated Dec. 18, 2012 with Barclays Bank plc as administrative agent to update pricing, according to an 8-K filed Monday with the Securities and Exchange Commission.

The interest rate for revolving loans was changed to Libor plus 150 basis points to 225 bps. Prior to the amendment, the margin over Libor ranged from 200 bps to 275 bps.

Cinemark also extended the revolving termination date to the earlier of (a) Nov. 28, 2022 and (b) to the extent any term loans having a maturity date that is on or prior to Nov. 28, 2022 are then outstanding, the date that is 90 days prior to that term loan maturity date.

Cinemark is a Plano, Texas-based motion picture exhibitor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.