Transaction|November 5, 2013
Cineplex Inc. closes C$107.5 million public offering of extendible convertible debentures
Torys acted as counsel to the underwriters led by Scotiabank and RBC Capital Markets with a team that included John Emanoilidis, Michael Zackheim and Matthew Murphy (corporate/securities), Simon Williams (lending), Andy Gibbons (real estate), Christopher Roehrig (U.S. securities) and Richard Johnson (Canadian tax).
On November 5, 2013, Cineplex Inc. (Cineplex) announced that it completed its offering of C$100.0 million aggregate principal amount of 4.50% convertible unsecured subordinated debentures at a price of C$1,000 per debenture.
The offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters, co-led by Scotiabank and RBC Capital Markets. Pursuant to the October 22, 2013 underwriting agreement, the underwriters purchased an additional C$7.5 million aggregate principal amount of debentures at a price of C$1,000 per debenture upon the exercise in full of their over-allotment option, which closed on November 12, 2013.
As previously announced, Cineplex intends to use the net proceeds of the offering to partially reduce bank indebtedness under the company's credit facility in connection with its acquisition of 24 theatres located in Atlantic Canada from Empire Theatres Limited.
Cineplex is one of Canada's leading entertainment companies, operating one of the most modern and fully digitized motion picture theatre circuits in the world.
Further information can be found on Marketwired's website.
The offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters, co-led by Scotiabank and RBC Capital Markets. Pursuant to the October 22, 2013 underwriting agreement, the underwriters purchased an additional C$7.5 million aggregate principal amount of debentures at a price of C$1,000 per debenture upon the exercise in full of their over-allotment option, which closed on November 12, 2013.
As previously announced, Cineplex intends to use the net proceeds of the offering to partially reduce bank indebtedness under the company's credit facility in connection with its acquisition of 24 theatres located in Atlantic Canada from Empire Theatres Limited.
Cineplex is one of Canada's leading entertainment companies, operating one of the most modern and fully digitized motion picture theatre circuits in the world.
Further information can be found on Marketwired's website.