Exhibit 99.1
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For Immediate Release | | | | News Announcement |
Cinemark USA, Inc. Announces Launch of $250 Million Senior Secured Notes
PLANO, Texas - April 13, 2020— Cinemark Holdings, Inc. (NYSE:CNK) announced today that its wholly-owned subsidiary, Cinemark USA, Inc. (the “Company”), plans to commence a private offering (the “Offering”) that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers of $250 million aggregate principal amount of senior secured notes due 2025 (the “Notes”).
The Notes will be guaranteed by certain of the Company’s subsidiaries that guarantee, assume or in any other manner become liable with respect to any of the Company’s or any guarantor’s other debt. The Notes and the guarantees will be the Company’s and the guarantors’ senior obligations secured by a first-priority lien on certain of the Company’s leasehold interests in real property. The Company intends to use the net proceeds of the proposed Offering for general corporate purposes, including further increasing its liquidity.
The Notes and the related guarantees will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certainnon-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any state or other jurisdiction, and the Notes may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Cinemark Holdings:
Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 554 theatres with 6,132 screens in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the movie-going experience.
Contact:
Chanda Brashears
VP Investor Relations and Corporate Communications
(972)665-1671
cbrashears@cinemark.com
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