Cineworld Group Plc is planning to raise $2.26 billion, according to a court filing on Sunday, as the theater chain aims to emerge from Chapter 11 bankruptcy in the first half of 2023.
People walk past a Cineworld in Leicester's Square, amid the coronavirus disease outbreak in London, Britain, October 4, 2020. REUTERS/Henry Nicholls/File Photois planning to raise $2.26 billion, according to a court filing on Sunday, as the theater chain aims to emerge from Chapter 11 bankruptcy in the first half of 2023.
The fundraising will consist of a first lien senior secured debt credit facility of $1.46 billion and issuance of new common stock for an aggregate purchase price of $800 million, according the filing with the U.S. bankruptcy court in the Southern District of Texas. Cineworld filed for U.S. bankruptcy protection in September to try to restructure its debt after being hit by the pandemic and a lack of blockbuster movies. It has beenThe proceeds of the capital raising will be used to meet costs and expenses relating to the restructuring, and also to pay fees, other expenses and provide working capital to reorganized debtors, according to the filing.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Valero Texas Open still up for grabs entering final roundEntering the final round of the Valero Texas Open on Sunday, a packed group of players from all experience levels remain in the mix to earn a Masters berth.
Read more »
Resurrecting Easter Sunday with 'The Sisters' in Dolores Park: Arts & culture calendar picksSpring is here and that means the resurrection of 'Hunky Jesus' and 'Foxy Mary' this Easter Sunday in San Francisco's Dolores Park. Here's some other upcoming arts & culture suggestions.
Read more »
Sunday thunderstorms could bring hail, strong wind, tornadoes to Dallas-Fort Worth“The forecast could change pretty quickly,” said Jason Dunn, a meteorologist for the weather service in Fort Worth on Saturday. “It’s one of those events...
Read more »
AccuWeather: Saturday storms give way to sun on SundayMeteorologist Brittany Boyer says after the severe weather on Saturday much cooler temperatures and some sunshine arrives on Sunday.
Read more »