Cineworld Gets OK to Borrow $150 Million Following Creditor Deal

Bankrupt Cineworld Group won court approval to borrow an additional $150 million and refinance about $1 billion of old debt via a new credit line after it settled creditor objections to the financing.

• US Bankruptcy Judge Marvin Isgur in a hearing Monday approved the company’s debtor-in-possession financing package on a final basis
• The theater operator’s official committee of unsecured creditors spoke in favor of the deal after Cineworld agreed to, among other things, extend deadlines for potential suitors to submit offers for the company, court papers show
• Cineworld will continue working on a plan of reorganization while also kicking off ...