Cinemex follows Cinepolis into loan market

Cinemex follows Cinepolis into loan market

Loans

Mexican movie theater chain Cinemex is in the market with a MXN2bn ($153m), five year loan led by HSBC, LatinFinance understands. The deal comes soon after competitor Cinepolis closed a five-year dollar/peso loan. The margin on Cinemex’s deal is over the TIIE and tied to a leverage ratio. Cinemex’s debt to ebitda ratio is under 1.5x. If it stays that way, the loan pays 110bp; if the company’s debt rises to up to twice ebitda it pays 130bp. Above that, and up to 3x, the loan pays 165bp. The loan

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