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| Home : Cineplex Announces Amendment to Credit Facilities |
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Sep 29
2011 |
Cineplex Announces Amendment to Credit Facilities |
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TORONTO, ONTARIO--(Marketwire - Sept. 28, 2011) - Cineplex Inc. (TSX:CGX) and Cineplex Entertainment Limited Partnership (collectively "Cineplex"), today announced the signing of an amended and restated credit agreement with a maturity of September 28, 2016. This amendment includes an extended five year term, financial covenant improvements, revised revolving and non-revolving components, and additional flexibility in debt management and the permitted use of funds. The amended facilities total $350 million and are comprised of a $150 million five-year senior secured non-revolving term credit facility and a $200 million five-year senior secured revolving credit facility. In addition, there are provisions allowing for the increase of the credit facility commitment amount by an additional $150 million if required with the consent of the lenders. Immediately prior to the closing of this facility Cineplex had borrowings of $235 million. |
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| Source:http://www.marketwire.com/mw/release.do?id=1566634&sourceType=3 |
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