June 22, 2020 / 6:24 AM / 2 months ago

Cineworld secures $250 mln in debt as it prepares to reopen theatres

June 22 (Reuters) - British cinema operator Cineworld said on Monday that it secured a $250 million debt facility from a group of private institutional investors as it gears up to reopen theatres following the easing of lockdowns around the world.

The company, which expects to reopen in the United States and the UK on July 10, said the new facility, along with covenant amendments and a $110 million increase in revolving credit facility announced last month, further strengthens its balance sheet. (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Anil D’Silva)

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