Cinemark launches $664 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, May 31 – Cinemark USA Inc. launched on Tuesday its $664 million covenant-light term loan B due May 8, 2022 with price talk of Libor plus 275 basis points with no Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Barclays is the lead bank on the deal.

Commitments are due by 5 p.m. ET on June 7, the source added.

Proceeds will be used to reprice the existing term loan B from Libor plus 300 bps with no Libor floor.

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

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