Cinemark buys back $7 million more 9¾% discount notes

By Jennifer Chiou

New York, Feb. 26 - Cinemark Holdings, Inc. said it repurchased an additional $7 million principal amount at maturity of its 9¾% senior discount notes in November and December.

The company noted that it used some of the proceeds from its initial public offering.

As previously reported, Cinemark repurchased roughly $30 million principal amount at maturity of its 9¾% notes through seven open-market purchases in October as well as $10 million of the notes in May 2008.

On Jan. 15, the company said that it was continuing to monitor the open market for opportunities to use cash to repurchase its debt at a discount. As of Dec. 31, it has $350 million in cash.

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

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