Cinemark to Raise $400 Million Via Private Offering
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hollywoodreporter.comMovie theater chain Cinemark Holdings is set to raise $400 million in new senior secured notes via a private offering. On Monday, Cinemark said it will use the proceeds of the proposed offering for general corporate purposes, to include repay borrowings under a restated senior secured credit facility belonging to a wholly-owned subsidiary, Cinemark USA.
The proposed offering of $400 million in convertible senior notes, due 2025, will also be used to pay the cost of convertible note hedge transactions.
Cinemark is raising new debt as it completes a phased reopening of its movie theater circuit after the delay in the releases of Hollywood tentpole releases.
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