Cinemark to accept $326.92 million tenders of 5 1/8% notes

By Taylor Fox

New York, March 12 – Cinemark USA Inc. announced it received $326,916,000, or 81.73%, tenders for its $400 million outstanding 5 1/8% senior notes due 2022 (Cusip: 172441AX5), according to a news release.

The offer expired at 5 p.m. ET on March 11.

Cinemark also received $9,146,000 tenders subject to guaranteed delivery procedures.

Cinemark said it will accept all of the tendered notes.

As previously reported, Cinemark offered to pay $1,002.70 per $1,000 note, plus interest to the settlement date.

The offer is subject to a financing condition.

Following the offer, the company intends to optionally redeem all the notes not purchased in the offer.

Settlement is expected on March 16.

Notes tendered through guaranteed delivery procedures have a deadline of 5 p.m. ET on March 15 with the same settlement date.

Wells Fargo Securities, LLC is the dealer manager (704 410-4756, 866 309-6316) for the offer.

D.F. King & Co., Inc. is the information agent and tender agent (800 317-8033, 212 269-5550, cnk@dfking.com).

Cinemark is a Plano, Tex.-based motion picture exhibitor.

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