Regal Cinemas Refinances Debt With New $1.9 Billion Loan

variety.com:

Rebecca Rubin Senior Film and Media Reporter Regal Cinemas, one of the world’s largest movie theater chains, has secured new financing to restructure a portion of its debt.

The exhibition company has arranged a $1.9 billion loan that extends maturity dates to as far out as Dec. 1, 2031. The refinancing comes after a record-breaking Thanksgiving at the box office, though overall North American revenues remain down by 6.4% from 2023 and 24% from pre-pandemic times.

Regal Cineworld generated over $1 billion in total revenue in the third quarter of the year, the company announced in a press release.

The company did not share how those returns compared to prior quarters. Disney’s “Inside Out 2” and “Deadpool & Wolverine,” as well as Universal’s “Twisters” and “Despicable Me 4,” were among the biggest Q3 earners for the circuit. “The overwhelmingly positive market reception for this transaction is a signal of the momentum we are seeing in our business,” said Eduardo Acuna, CEO at Regal Cineworld. “In Q3, Regal Cineworld welcomed over 49 million guests to our theatres and generated total revenue of over $1 billion dollars with record-high levels of spend per person on concessions.