New Issue: Carmike Cinemas prices $210 million 7 3/8% seven-year notes at par

By Paul A. Harris

Portland, Ore., April 20 - Carmike Cinemas, Inc. priced a $210 million issue of seven-year senior secured notes (B2/B/) at par to yield 7 3/8% on Friday, according to an informed source.

The yield printed in the middle of the 7¼% to 7½% yield talk.

Macquarie Capital (USA) Inc. was the bookrunner.

The Columbus, Ga.-based cinema operator plans to use the proceeds to retire Carmike's existing term loan, with any remaining proceeds to be used for working capital and other general corporate purposes.

Issuer:	Carmike Cinemas, Inc.
Amount:	$210 million
Maturity:	May 15, 2019
Securities:	Senior secured notes
Bookrunner:	Macquarie Capital (USA) Inc.
Coupon:	7 3/8%
Price:	Par
Yield:	7 3/8%
Spread:	602 bps
Call features:	Make-whole call at Treasuries plus 50 bps until May 15, 2015, then callable at 105.531, 103.688, 101.844, par on and after May 15, 2018
Equity clawback:	35% at 107.375 until May 15, 2015
Change-of-control put:	101%
Trade date:	April 20
Settlement date:	April 27
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7¼% to 7½%
Marketing:	Roadshow

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