Regal Cineworld Announces Refinancing of Term Loan B and Revolving Credit Facility

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Dec 03, 2024, 17:27 ET

The refinancing follows record highs for Regal Cineworld including over $1 billion dollars in revenue in Q3

KNOXVILLE, Tenn., Dec. 3, 2024 /PRNewswire/ -- Regal Cineworld Group, a leading global theatre operator, has successfully secured a new $1.9 billion USD Term Loan B facility (the "New Facility"). The New Facility is priced at SOFR + 525 bps with a maturity date of December 1, 2031, and replaces the Group's existing Term Loan B. The refinancing included a $350 million Revolving Credit Facility (the "New Facility") that replaces the company's existing revolving credit facility. The New Facility is priced at SOFR + 425 bps with a maturity date of December 1, 2029. Along with this refinancing and record highs at the box office, Regal Cineworld is well positioned after a successful restructuring of the company.

Regal Cineworld Logo

The refinancing comes after a record-breaking Thanksgiving weekend at the box office and represents investor confidence in the cinema sector's ongoing recovery and Regal Cineworld's strategic advantages.

"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. With the refinancing transaction, we will save $60 million per year in interest expense, which puts our successful restructuring squarely in the past."

Barclays, Deutsche Bank, JP Morgan, Wells Fargo, Goldman Sachs, and Texas Capital served as arrangers and bookrunners for the loan.

About Regal Cineworld
Regal Cineworld operates one of the largest and most geographically diverse theatre circuits in the world. Under the Regal, Cineworld, Picturehouse, Planet, and Cinema City brands, the company represents the second largest theatrical exhibition business by number of screens with locations in the United States, United Kingdom, Ireland, Israel, Poland, Czech Republic, Slovakia, Hungary, Bulgaria, and Romania. Regal Cineworld is focused on delivering the best moviegoing experience by providing our guests with the largest selection of premium large formats, a truly unlimited subscription program, and enhanced food and beverage offerings to make every visit to the theatre a truly memorable experience.

Media Contact
Manuela Van Dessel
VP and Group Treasurer at Regal Cineworld
(865) 925-9539 (Media Line)

SOURCE Regal