debt
confidence high
sentiment neutral
materiality 0.60
Cinemark USA launches $500M notes offering and tender offer for $405M 2026 notes
Cinemark Holdings, Inc.
- Tender offer for any and all $405M 5.875% Senior Notes due 2026; expires July 15, 2024.
- Consideration based on fixed spread of 50bps over 1.75% UST due 2025; settlement expected July 18.
- Plans private offering of $500M aggregate principal of senior notes due 2032.
- Net proceeds to fund tender offer, pay fees and expenses, and for general corporate purposes.
- Tender offer conditioned on completion of the notes offering to provide sufficient funds.