Cinemark Holdings successfully amended its senior secured credit facility reduce the rate at which the term loan bears interest, which will now be at either a base rate plus 1.00% or LIBOR + 2.00%, representing an annual cash interest savings of 25 basis points or approximately $1.7 million per year.

According to a related 8-K filing, Barclays Bank is administrative agent for the facility.

“We are pleased that market favorability has once again enabled us to improve the coupon rate of our term loan, which will yield meaningful savings for our company,” stated Sean Gamble, Cinemark’s CFO. “We also took the opportunity to modify certain definitions and other provisions in the agreement to better reflect our current operating environment and strategic initiatives.”

Cinemark is a domestic and international motion picture exhibitor, operating 525 theatres with 5,894 screens in 41 U.S. states, Brazil, Argentina, and 13 other Latin American countries as of March 31, 2017.