The Firm recently represented the initial purchasers in connection with Cinemark USA, Inc.’s private placement of $250 million aggregate principal amount of 8.750% Senior Secured Notes due 2025. The notes are guaranteed on a joint and several senior basis by certain subsidiaries of Cinemark USA, Inc. Cinemark USA, Inc. intends to use the net proceeds from the senior secured notes offering for general corporate purposes, including further increasing its liquidity.
Cinemark USA, Inc. operated a total of 554 theaters and 6,132 screens in the United States and Latin America as of December 31, 2019.
The Simpson Thacher team for the transaction included Ken Wallach, David Azarkh, Benjamin Heriaud, Seth Lowinger, Pinto Adhola and Catherine Ciriello (Capital Markets); Jonathan Cantor and Gal Shemer (Tax); Jennie Getsin (Blue Sky); Jeanne Annarumma and Monish Bhayana (Executive Compensation and Employee Benefits); Soogy Lee (Security and Collateral); Timothy Gallagher and Dennis Loiacono (Real Estate), and Timothy Mulvihill (Environmental).