Struggling AMC to raise $500 million amid the coronavirus crisis. But when will theaters reopen? [Los Angeles Times (CA)]
Cinemark Holdings Inc Cinemark Holdings, Inc. (CNK)
Last cinemark holdings inc cinemark holdings, inc. earnings: 2/21 06:15 am
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Source: Los Angeles Times
President Trump on Thursday offered beleaguered movie theaters a glimmer of hope that they could gradually return to business in the coming months, as the nation’s largest cinema chain said it plans to raise half a billion dollars in order to survive the coronavirus crisis . AMC Theatres said it will raise $500 million in a private debt offering in order to stay afloat during the public health emergency that forced the closure of all 1,000 of its global locations, including about 630 in the U.S. Domestic cinemas have been closed since mid-March because of government restrictions meant to curb the spread of the virus. Theater owners have increasingly begun to float the possibility of reopening sometime in July, in the middle of what would normally be Hollywood’s key summer blockbuster movie season. But AMC’s offering of first lien notes, due in 2025, comes amid continued uncertainty. Some analysts have predicted that the prolonged coronavirus cash crunch could force heavily indebted AM
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