Reuters reported that Barclays and HSBC will launch a $3.6 billion leveraged loan syndicate to back Cineworld Group‘s acquisition of U.S. chain Regal Entertainment.
In a letter to its stockholders, UK-based Cineworld executives stated, “The acquisition of Regal will provide Cineworld with a major presence in the U.S. cinema market, the largest box office market in the world.”
According to Reuters, the financing will comprise a $4.007 billion, seven-year covenant-lite term loan, which will include around a $1 billion carve-out denominated in euros and sterling.
