has secured an additional $200m of incremental loans from existing lenders as it looks to ride out the ongoing pandemic.
The loans mature in May 2024. The company has also agreed covenant amendments on certain of its existing debt facilities, including reducing the minimum liquidity requirement and relaxing limitations on the use of cash, which it said would help the group recover in the coming months and years. Cineworld has significant operations in both the UK and U.S. that have been attempting to get back to business after a devastating 15 months littered with lockdowns.“The additional liquidity announced today provides the Group with significant operating flexibility now that cinemas have opened across the world.
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