Cineworld Taps Barclays, Deutsche for $1.8 Billion Refinancing
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Cineworld Group Plc is working with Barclays Plc and Deutsche Bank AG to talk to investors about refinancing debt to lower the company’s funding costs, according to people familiar with the matter.
The UK-based movie theater chain is looking to replace about $1.8 billion of bankruptcy exit financing debt due in 2028, according to people familiar with the matter who asked not to be named discussing private information. The company has a $1.75 billion payment-in-kind term loan currently paying SOFR+850 basis points, with a non-call protection that ends in November.