Cinemark’s $405 Million Senior Notes Offering and Concurrent $400 Million Cash Tender Offer

Simpson Thacher represented Wells Fargo Securities LLC, as initial purchaser and as dealer manager, on the deal.

Cinemark USA, Inc. (“Cinemark”) executed its offering of $405 million aggregate principal amount of 5.875% Senior Notes due 2026.

Cinemark also executed its concurrent cash tender offer to purchase any and all of its outstanding $400 million aggregate principal amount of 5.125% Senior Notes due 2022.

Cinemark used a portion of the net proceeds from the offering to fund the settlement of the tender offer and intends to use the remaining net proceeds to (i) fund the redemption of any 5.125% Senior Notes due 2022 that remain outstanding following the settlement of the tender offer and (ii) pay related premiums, fees and expenses.

Cinemark USA, Inc. operated a total of 531 theaters and 5,958 screens in the United States and Latin America as of December 31, 2020.

The Simpson Thacher team for the transaction included Ken Wallach (Picture), David Azarkh, Ben Massey and Nicholas Halliburton (Capital Markets); Jonathan Cantor and Gal Shemer (Tax); Jennie Getsin (Blue Sky); Jeanne Annarumma and J. Pasco Struhs (Executive Compensation and Employee Benefits); and Timothy Mulvihill (Environmental).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Nicholas Halliburton – Simpson Thacher & Bartlett; Ben Massey – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Gal Shemer – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Kenneth Wallach – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Wells Fargo Securities;

Author: Martina Bellini

Cinemark’s $405 Million Senior Notes Offering and Concurrent $400 Million Cash Tender Offer

Simpson Thacher represented Wells Fargo Securities LLC, as initial purchaser and as dealer manager, on the deal.

Cinemark USA, Inc. (“Cinemark”) executed its offering of $405 million aggregate principal amount of 5.875% Senior Notes due 2026.

Cinemark also executed its concurrent cash tender offer to purchase any and all of its outstanding $400 million aggregate principal amount of 5.125% Senior Notes due 2022.

Cinemark used a portion of the net proceeds from the offering to fund the settlement of the tender offer and intends to use the remaining net proceeds to (i) fund the redemption of any 5.125% Senior Notes due 2022 that remain outstanding following the settlement of the tender offer and (ii) pay related premiums, fees and expenses.

Cinemark USA, Inc. operated a total of 531 theaters and 5,958 screens in the United States and Latin America as of December 31, 2020.

The Simpson Thacher team for the transaction included Ken Wallach (Picture), David Azarkh, Ben Massey and Nicholas Halliburton (Capital Markets); Jonathan Cantor and Gal Shemer (Tax); Jennie Getsin (Blue Sky); Jeanne Annarumma and J. Pasco Struhs (Executive Compensation and Employee Benefits); and Timothy Mulvihill (Environmental).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Nicholas Halliburton – Simpson Thacher & Bartlett; Ben Massey – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Gal Shemer – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Kenneth Wallach – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Wells Fargo Securities;

Author: Martina Bellini