Loan & DebtMay 12, 2026, 04:42 PM
Cinemark Holdings Reduces Term Loan Interest Rate by 0.25%
AI Summary
Cinemark Holdings, Inc. and its subsidiary Cinemark USA, Inc. entered into a Fifth Amendment to their Credit Agreement on May 12, 2026. This amendment reduces the interest rate on the company's term loans by 0.25% and resets the 101% soft call for six months. The agreement also includes Replacement Term Loans totaling $630.7 million to refinance all existing term loans, aiming to optimize debt structure.
Key Highlights
- Entered Fifth Amendment to Credit Agreement on May 12, 2026.
- Reduced interest rate on term loans by 0.25%.
- Reset 101% soft call for six months.
- Replacement Term Loans to refinance Existing Term Loans.
- Aggregate Replacement Term Commitment of $630,710,276.62.
- Proceeds from Replacement Term Loans to fully prepay Existing Term Loans.