logo
Share SHARE
FONT-SIZE Plus   Neg

Carmike Cinemas Prices $210 Mln Of Senior Notes

Carmike Cinemas, Inc. (CKEC) said Friday that it has priced its unregistered offering of $210 million aggregate principal amount of 7.375% Senior Secured Notes Due 2019.

The notes were priced at par and will bear an interest rate of 7.375% per annum payable semi-annually on May 15 and November 15, beginning on November 15, 2012.

Carmike expects to close the offering of the notes on or about April 27.

Carmike also expects to enter into a new $25 million senior secured revolving credit facility to replace its existing revolving credit facility. Carmike expects the new credit facility to remain undrawn at closing.

The net proceeds from the offering will be used to retire Carmike's existing term loan and to pay related fees and expenses, and any remaining net proceeds will be used for working capital and other general corporate purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT