Cineplex enters into new and increased credit facilities totalling $550M

Cineplex Inc. (Cineplex) completed new and increased credit facilities totalling $550 million, pursuant to an amended and restated credit agreement with a syndicate of lenders led by The Bank of Nova Scotia, Bank of Montreal and Royal Bank of Canada, as co-lead arrangers and The Bank of Nova Scotia, as administrative agent.

The amended credit facilities include an extended five-year term, with a total availability of $550 million, that comprised a $150-million five-year senior secured non-revolving term credit facility, and a $400-million five-year senior secured revolving credit facility. The amended and restated credit agreement also provides Cineplex with an accordion option to increase the credit facilities by an additional $150 million.

Cineplex is one of Canada’s leading entertainment companies and operates one of the most modern and fully digitized motion picture theatre circuits in the world.

Cineplex was represented in-house by Anne Fitzgerald, Chief Legal Officer, and externally by Goodmans LLP with a team that included Jeffrey Citron, Elizabeth Jackman, Jonathan Chan and Dan Dedic. Local counsel to Cineplex included McInnes Cooper in Atlantic Canada, with a team that included Deborah Patterson; Fillmore Riley LLP in Manitoba, with a team that included Jody Langhan and Delaney Vun; and Lavery, de Billy, L.L.P. in Québec, with a team that included Richard Burgos and Darina Bashilova.

The Bank of Nova Scotia, as sole bookrunner, co-lead arranger and administrative agent under the credit facilities, was represented by Borden Ladner Gervais LLP with a team that included Gus Karantzoulis and Cristina Arantes.

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