Post by
Tiger737373 on Dec 31, 2021 8:17am
Cineplex Annouces Amendment to Credit Facility
Toronto, December 30, 2021. Cinepelx announced today that it has entered into a fourth amendment to the seventh amended and restated credit agreement with its lenders. The fourth amendment provides for, among other things, the continued suspension of financial covenant testing until the second quarter of 2022 upon certain conditions being met, including maintaining a minimum monthly liquidity threshold.
«« With the Omicron variant spurring new mandated oprerating restrictions, we felt it was prudent to approach our supportive lenders for the continued suspension of the testing our financial covenants until the second quarter 2022»» Ellis Jacob, President and CEO, Cineplex