Regal Cinemas launches $959 million term loan repricing to investors

By Sara Rosenberg

New York, May 23 – Regal Cinemas Corp. launched with a lender call at 1:30 p.m. ET on Monday a $959 million first-lien covenant-light term loan due April 2022 with price talk of Libor plus 275 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to reprice the existing first-lien term loan down from Libor plus 300 bps with a 0.75% Libor floor.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Regal Cinemas is a subsidiary of Regal Entertainment Group, a Knoxville, Tenn.-based motion picture exhibitor.

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