Connect with us

Hi, what are you looking for?

Stock

Cineworld takes $200 million loan ahead of busy movie season

Stock Markets20 minutes ago (Jul 30, 2021 03:50AM ET)

(C) Reuters. FILE PHOTO: A Cineworld cinema near Manchester, Britain, October 4, 2020. REUTERS/Phil Noble

(Reuters) – Cineworld has secured $200 million in additional loans from existing lenders, the cinema operator said on Friday, as it prepares to welcome back more movie-goers for a strong slate of upcoming films.

The company, which had net debt of $8.3 billion at the end of 2020, also renegotiated existing debt agreements to reduce minimum liquidity requirements and relax limitations on the use of cash as more cinemas reopen.

“The additional liquidity announced today provides the group with significant operating flexibility now that cinemas have opened across the world,” Chief Executive Mooky Greidinger said.

Cineworld, which in March sunk to its first-ever loss as the pandemic shut theatres and delayed movie releases, said business has improved since halls started reopening in April and it was well-positioned to benefit from pent-up customer demand.

The owner of Regal Cinemas said it was monitoring the potential impact of new virus variants, but was confident about its prospects due to an “unprecedented slate of films” including the new James Bond movie “No Time To Die” and Tom Cruise starrer “Top Gun: Maverick” scheduled for the second half of the year.

Cineworld takes $200 million loan ahead of busy movie season

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved