Kerasotes Theaters holds bank meeting for $170 million facility

By Sara Rosenberg

New York, Sept. 23 - Kerasotes Theaters Inc. held a bank meeting Monday regarding a new $170 million credit facility, according to a syndicate source. Deutsche Bank was sole lead on the deal.

The loan consists of a $100 million six-year term loan B with an interest rate of Libor plus 400 basis points and a $70 million five-year revolver with a grid-based interest rate that is still to be determined, the syndicate source said.

Proceeds will be used to refinance the Illinois-based movie chain's debt.

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