debt
confidence high
sentiment positive
materiality 0.60
Cinemark amends credit facility, cuts term loan interest rate by 0.50% and refinances $643.5M
Cinemark Holdings, Inc.
- First Amendment to Second Amended Credit Agreement reduces term loan interest rate by 0.50%.
- Aggregate replacement term loan commitment of $643,500,000 to refinance existing term loans.
- 101% soft call reset for six months from the First Amendment effective date.
- Amendment effective May 28, 2024; quarterly amortization payments set at $1,608,750.
- No change to term loan maturity date; all covenants and collateral remain in place.