Cineplex Announces Credit Facility Amendment

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[{"type":"text","content":"\n \n \n \n Cineplex Announces Credit Facility Amendment\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: RIGHT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 28, 2023\n \n \n /CNW/ - (TSX: CGX) – Today, Cineplex Inc. (\"Cineplex\" or the \"Company\") entered into a seventh amendment (the \"Seventh Amendment\") to the seventh amended and restated credit agreement with its lenders (as amended, the \"Credit Agreement\"). The Seventh Amendment revises certain of the financial covenants throughout the remainder of 2023.  A copy of the Seventh Amendment will be filed under the Company's profile on SEDAR at\n \n www.sedar.com\n \n .\n \n \n \n \n \n \n \n \n \n The following is a summary of the key terms of the Seventh Amendment (all capitalized terms below are as defined in the Seventh Amendment):\n \n \n \n \n \n \n \n a.\n \n \n \n \n \n \n The financial covenant testing of the Total Leverage Ratio is amended as follows:\n \n \n \n \n \n \n \n \n \n \n \n i.\n \n \n \n \n \n \n Commencing in Q1 2023 through to and including Q3 2023 testing is suspended;\n \n \n \n \n \n \n \n \n \n \n \n ii.\n \n \n \n \n \n \n Q4 2023 is amended to 3.25x; and\n \n \n \n \n \n \n \n \n \n \n \n iii.\n \n \n \n \n \n \n Thereafter, the Total Leverage Ratio covenant is unchanged at 3.00x.\n \n \n \n \n \n \n \n \n b.\n \n \n \n \n \n \n The financial covenant testing of the Senior Leverage Rat...

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