Carmike Cinemas $455 million credit facility to launch Friday

By Sara Rosenberg

New York, April 27 - Carmike Cinemas Inc. is scheduled to hold a bank meeting on Friday to launch its proposed $455 million credit facility, according to a company spokesperson. Bear Stearns is the lead bank on the deal.

Proceeds will be used to refinance existing bank debt and help fund the previously announced acquisition of George Kerasotes Corp. for $66 million.

No further details on the credit facility were available prior to press time.

Carmike is a Columbus, Ga., motion picture exhibitor.

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