Additional liquidity secured

RNS Number : 5771Q

Cineworld Group plc

22 June 2020

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

22 June 2020

Cineworld Group plc ("Cineworld" or the "Group")

Additional liquidity secured

Cineworld is pleased to announce that the Group has agreed with a group of private institutional investors the terms of a new $250m secured debt facility with a maturity of 2023. This, together with the covenant amendments and   revolving credit facility increase of $110m announced on 28 May 2020, further strengthens the Group's balance sheet as cinemas begin to re-open around the world.

With the easing of lockdown restrictions in key jurisdictions, Cineworld is excited to welcome customers back to cinemas and enjoy the best place to watch a movie.

Contacts:

Cineworld Group plc Israel Greidinger Nisan Cohen Manuela Van Dessel [phone] [e-mail] Finsbury James Leviton Andy Parnis Rob Allen [phone] [e-mail]

The person responsible for arranging the release of this announcement is Fiona Smith, Company Secretary.

Certain statements in this announcement are forward looking and so involve risk and uncertainty because they relate to events, and depend upon circumstances that will occur in the future and therefore results and developments can differ materially from those anticipated. The forward looking statements reflect knowledge and information available at the date of preparation of this announcement and the Group undertakes no obligation to update these forward-looking statements.  Nothing in this announcement should be construed as a profit forecast.

 

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