Carmike Cinemas Secures New Loan
Carmike Cinemas has entered into a new $265 million senior secured term loan facility and a $30 million senior secured revolving credit facility. Carmike Cinemas chief financial officer Richard B. Hare says The new term loan and revolving credit facility is a positive development for Carmike which we believe will afford us the requisite flexibility to fund the Company’s future growth and success.” Carmike’s existing senior secured term loan facility was set to mature in May 2012 and had a balance of $250.8 million outstanding at December 31 2009.