PLANO, Texas, May 31, 2011 (BUSINESS WIRE) --
Cinemark Holdings, Inc. (NYSE:CNK) announced today that its wholly-owned
subsidiary, Cinemark USA, Inc. (the "Company"), plans to commence a
private offering to eligible purchasers of $200 million aggregate
principal amount of Senior Subordinated Notes due 2021 (the "2021
Notes"). The 2021 Notes will be guaranteed by certain of the Company's
subsidiaries that guarantee the Company's and the guarantors' debt. The
Company intends to use the net proceeds of the proposed offering to
repay approximately $157 million of term loans outstanding under its
senior secured credit facility and for general corporate purposes.
The 2021 Notes have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or applicable state securities
laws and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws. The
Company plans to offer and issue the 2021 Notes only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act and
to persons outside the United States pursuant to Regulation S under the
This press release is being issued pursuant to Rule 135(c) under the
Securities Act of 1933, and is neither an offer to sell nor a
solicitation of an offer to buy any of the these securities and shall
not constitute an offer to sell or a solicitation of an offer to buy, or
a sale of any of these securities in any jurisdiction in which such
offer, solicitation or sale is unlawful.
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended. The "forward-looking
statements" include the Company's current expectations, assumptions,
estimates and projections about its business and its industry. They
include statements relating to future revenues, expenses and
profitability, the future development and expected growth of the
Company's business, projected capital expenditures, attendance at movies
generally or in any of the markets in which it operates, the number or
diversity of popular movies released and its ability to successfully
license and exhibit popular films, national and international growth in
its industry, competition from other exhibitors and alternative forms of
entertainment and determinations in lawsuits in which the Company is a
defendant. You can identify forward-looking statements by the use of
words such as "may," "should," "could," "estimates," "predicts,"
"potential," "continue," "anticipates," "believes," "plans," "expects,"
"future" and "intends"and similar expressions which are intended
to identify forward-looking statements. These statements are not
guarantees of future performance and are subject to risks, uncertainties
and other factors, some of which are beyond the Company's control and
difficult to predict and could cause actual results to differ materially
from those expressed or forecasted in the forward-looking statements. In
evaluating forward-looking statements, you should carefully consider the
risks and uncertainties described in the "Risk Factors" section or other
sections in the Company's Annual Report on Form 10-K filed on March 11,
2011. All forward-looking statements attributable to the Company or
persons acting on the Company's behalf are expressly qualified in their
entirety by these cautionary statements and risk factors.
Forward-looking statements contained in this press release reflect the
Company's view only as of the date of this press release. The Company
undertakes no obligation, other than as required by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
About Cinemark Holdings, Inc.
Headquartered in Plano, TX, Cinemark is a leader in the motion picture
exhibition industry. As of March 31, 2011, Cinemark operates 431
theatres and 4,941 screens in 39 U.S. states, Brazil, Mexico and 11
other Latin American countries.
SOURCE: Cinemark Holdings, Inc.
Cinemark Holdings, Inc.
Robert Copple, 972-665-1500
Jaffoni & Collins
Robert Rinderman, 212-835-8500