Carmike Cinemas seeks to refinance loan facility
By APFriday, January 8, 2010
Carmike Cinemas seeks debt refinancing
COLUMBUS, Ga. — Carmike Cinemas Inc. said it is seeking to refinance a senior secured term loan facility that matures in May 2012 and had an outstanding balance of $250.8 million at the end of 2009.
The movie theater owner also said it plans to replace its $50 million revolving credit facility maturing in May 2010 with a new, $30 million revolving credit facility that will mature in January 2013.
The Columbus, Ga., company said it is seeking the refinancing because interest rates have the potential to rise over the next two years. The refinancing is expected to be complete by early February.
Shares of Carmike Cinemas were up 10 cents, or 1.3 percent, at $7.65 Friday.
YOUR VIEW POINT
