Regal Cinemas lowers interest rate and extends maturity on revolver

By Marisa Wong

Madison, Wis., May 28 - Regal Entertainment Group wholly owned subsidiary Regal Cinemas Corp. amended its sixth amended and restated credit agreement to reduce the interest rate on its $85 million revolving credit facility by 100 basis points, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the applicable margin for Libor loans is now 250 bps or 275 bps, depending on the company's consolidated leverage ratio.

Regal Cinemas also extended the maturity date of the revolver to May 19, 2017 from May 19, 2015.

The credit agreement, last amended and restated on April 19, also provides $1,006,000,000 of term loans.

Credit Suisse AG, Cayman Islands Branch is the administrative agent.

Regal is a motion picture exhibitor based in Knoxville, Tenn.

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