Cinemark plans to call some or all of 9% notes, 9¾% discount notes with IPO proceeds

By Angela McDaniels

Seattle, Feb. 1 - Cinemark Holdings, Inc. said it plans to use a portion of the proceeds from its upcoming initial public offering to redeem all or part of its 9% senior subordinated notes due 2013 or 9¾% senior discount notes due 2014.

As of Thursday, there were $535.6 million principal amount at maturity of 9¾% discount notes and $332.3 million principal amount of 9% notes outstanding, according to an S-1 report filed with the Securities and Exchange Commission on Thursday.

Proceeds from the IPO will also be used repay $1.1172 billion of term loans outstanding under the company's senior secured credit facility, for working capital and for other general corporate purposes.

Cinemark is a motion picture exhibitor based in Plano, Texas.

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