Cinemark talks $664 million term loan B repricing with 200 bps spread

By Paul A. Harris

Portland, Ore., June 1 – Cinemark set price talk in a repricing of $664 million of its term loan B due May 8, 2022 (existing ratings Ba1/BBB-), according to a market source.

The repricing reduces the Libor spread to 200 basis points from 225 bps. There is no Libor floor. There is a refreshed six months of soft call protection at 101.

Commitments are due on June 9.

Barclays is the administrative agent and bookrunner.

The borrower is a Plano, Texas-based motion picture exhibitor.

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