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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

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