Regal Entertainment Group Announces Amended Bank Facility

on May 20, 2010
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KNOXVILLE, Tenn. -- Regal Entertainment Group ("Regal") (NYSE: RGC) announced today that, Regal Cinemas Corporation ("Regal Cinemas"), a wholly owned subsidiary of Regal, entered into a sixth amended and restated credit agreement (the "Amended Senior Credit Facility"), which amends, restates and refinances its fifth amended and restated credit agreement (the "Prior Senior Credit Facility"). The Amended Senior Credit Facility consists of a term loan facility in an aggregate principal amount of $1,250.0 million with a final maturity date in November 2016 and a revolving credit facility in an aggregate principal amount of $85.0 million with a final maturity date in May 2015. Proceeds of the term loan under the Amended Senior Credit Facility were applied to refinance the term loan under the Prior Senior Credit Facility, which had an aggregate principal balance of approximately $1,262.1 million. No amounts have been drawn on the revolving credit facility under the Amended Senior Credit Facility.

Credit Suisse AG, Cayman Islands Branch is the Administrative Agent under the Amended Senior Credit Facility. Credit Suisse Securities (USA) LLC and Barclays Capital acted as Joint Lead Arrangers and Joint Bookrunners, and Banc of America Securities LLC and Deutsche Bank Securities Inc. also acted as Joint Bookrunners.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

Forward-looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although Regal believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from Regal's expectations are disclosed in the risk factors contained in Regal's 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2010. All forward-looking statements are expressly qualified in their entirety by such factors.

 

Tags: Regal Entertainment Group, Regal Cinemas
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