Syndicate of Banks Arrange Refinancing of Term Loan B and Credit Facility for Regal

Regal Cineworld Group, a global theatre operator, secured a new $1.9 billion term loan B facility. The new facility is priced at SOFR + 525 bps with a maturity date of Dec. 1, 2031, and replaces the group’s existing term loan B. The refinancing included a $350 million revolving credit facility that replaces the company’s existing revolving credit facility. The new facility is priced at SOFR + 425 bps with a maturity date of Dec. 1, 2029._x000D_
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“The overwhelmingly positive market reception for this transaction is a signal of the momentum we are seeing in our business,” Eduardo Acuna, CEO at Regal Cineworld, said. “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.”_x000D_
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Barclays, Deutsche Bank, JP Morgan, Wells Fargo, Goldman Sachs, and Texas Capital served as arrangers and bookrunners for the loan.