Company Overview of Regal Cinemas Corporation
Regal Cinemas Corporation, through its subsidiaries, owns and operates multi screen motion picture theatres in the United States. The company was incorporated in 2002 and is based in Knoxville, Tennessee. As of January 1, 2004, Regal Cinemas Corporation operates as a subsidiary of Regal Entertainment Holdings Inc.
7132 Regal Lane
Knoxville, TN 37918
Founded in 2002
Key Executives for Regal Cinemas Corporation
Executive Vice President, General Counsel and Secretary
Compensation as of Fiscal Year 2016.
Regal Cinemas Corporation Key Developments
Regal Cinemas Corp. Resolves Legal Dispute with Landmark Theatres
Aug 26 16
Regal Entertainment Group unit Regal Cinemas Corp. resolved a legal dispute with Landmark Theatres over a clearance agreement affecting Landmark's Washington, D.C., theater. In an antitrust lawsuit filed in January 2016, Landmark accused Regal Cinemas of acting unfairly by denying blockbuster films to the Washington, D.C., theater, while letting its Gallery Place multiplex show them. As part of the settlement, Regal Cinemas agreed to drop clearance agreements in the areas that were being adversely affected.
Regal Cinemas Corporation Announces Permitted Secured Refinancing Agreement with Credit Suisse
Jun 3 16
Regal Cinemas Corporation entered into a permitted secured refinancing agreement with Regal Entertainment Holdings Inc., the guaranators party thereto, Credit Suisse AG, as Administrative Agent and the Lenders party thereto. The Refinancing Agreement amends the terms of that seventh amended and restated credit agreement, dated April 2, 2015, by and among Regal Cinemas, Credit Suisse and the lenders party thereto from time to time, which includes a term loan facility. Pursuant to the Refinancing Agreement, Regal Cinemas consummated a permitted secured refinancing of the Existing Term Facility, which had an aggregate principal balance of approximately $958.5 million, and in accordance therewith, the Lenders advanced term loans in an aggregate principal amount of approximately $958.5 million with a final maturity date in April 2022. Together with other amounts provided by Regal Cinemas, proceeds of the New Term Loans were applied to repay all of the outstanding principal and accrued and unpaid interest on the Existing Term Facility under the Amended Senior Credit Facility in effect immediately prior to the making of the New Term Loans. The New Term Loans amortize in equal quarterly installments in an aggregate annual amount equal to 1.0% of the original principal amount of the New Term Loans, with the balance payable on the maturity date of the New Term Loans. The Refinancing Agreement also amends the Amended Senior Credit Facility by reducing the interest rate on the New Term Loans, by providing, at Regal Cinemas' option, either a base rate or an adjusted LIBOR rate plus, in each case, an applicable margin. Such applicable margin will be either 1.75% in the case of base rate loans or 2.75% in the case of LIBOR rate loans. The Refinancing Agreement also provides for a 1.0% prepayment premium applicable in the event that Regal Cinemas enters into a refinancing or amendment of the New Term Loans on or prior to the sixth-month anniversary of the closing of the Refinancing Agreement that, in either case, has the effect of reducing the interest rate on the New Term Loans.
Regal Cinemas Corporation Enters into Seventh Amended and Restated Credit Agreement with Credit Suisse AG
Apr 7 15
Regal Cinemas Corporation entered into a seventh amended and restated credit agreement with Credit Suisse AG as Administrative Agent and the lenders party thereto which amends, restates and refinances the sixth amended and restated credit agreement among Regal Cinemas, Credit Suisse, Cayman Islands Branch, and the lenders party thereto. The Amended Senior Credit Facility consists of a term loan facility (the Term Facility) in an aggregate principal amount of $965.76 million with a final maturity date in April 2022 and a revolving credit facility (the Revolving Facility) in an aggregate principal amount of $85.0 million with a final maturity date in April 2020. The Term Facility amortizes in equal quarterly installments in an aggregate annual amount equal to 1.0% of the original principal amount of the Term Facility, with the balance payable on the Term Facility maturity date. Proceeds of the Term Facility were applied to refinance the term loan under the Prior Senior Credit Facility, which had an aggregate outstanding principal balance of approximately $963.25 million. No amounts have been drawn on the Revolving Facility. The Amended Senior Credit Facility also permits Regal Cinemas to borrow additional term loans thereunder in an amount of up to $200.0 million, plus additional amounts as would not cause the consolidated total leverage ratio to exceed 3.00:1.00, in each case, subject to lenders providing additional commitments for such amounts and the satisfaction of certain other customary conditions. The obligations of Regal Cinemas are secured by, among other things, a lien on substantially all of its tangible and intangible personal property and certain owned real property. The obligations under the Amended Senior Credit Facility are also guarantied by certain subsidiaries of Regal Cinemas and secured by a lien on all or substantially all of such subsidiaries' personal property and certain owned real property pursuant to that certain second amended and restated guaranty and collateral agreement, dated as of May 19, 2010 among Regal Cinemas Corporation, certain subsidiaries of Regal Cinemas Corporation party thereto and Credit Suisse. The obligations are further guarantied by Regal Entertainment Holdings Inc., on a limited recourse basis, with such guaranty being secured by a lien on the capital stock of Regal Cinemas.
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