Kinepolis : realises a private placement of bonds for a total value of 96 million euros
January 20, 2015 at 01:11 am EST
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Kinepolis Group has successfully concluded a private placement of bonds with institutional investors amounting to 96 million euros. 61.4 million euros were placed with a maturity of 7 years, 34.6 million euros with a maturity of 10 years.
The placement at attractive financial conditions fits in with the financial strategy of Kinepolis and serves to support the expansion of Kinepolis, as a diversification of its sources of funding and as a refinancing of existing credits. Last year, Kinepolis already acquired control of two Spanish cinemas and Dutch group Wolff Bioscopen (nine establishments, cinema projects in Dordrecht and Utrecht). Kinepolis also has building plans in Breda and Brétigny, outside Paris.
Today, the principal sources of funding of Kinepolis are a syndicated credit line with a banking consortium, a retail bond loan (75 million euros, maturity date March 2019), and now this private placement (61.4 million euros with maturity date 2022, 34.6 million euros with maturity date 2025).
Kinepolis Group NV specializes in operating multiplex movie theaters. The activity is organized around 3 areas:
- operation of cinema multiplexes: sale of tickets, confectionery, and beverages, sale of advertising space, event organization, etc. At the end of 2023, the group has a network of 109 cinemas in Belgium (11), Canada (36), the Netherlands (19), France (18), the United States (10), Spain (10), Luxembourg (3), in Switzerland and Poland;
- leasing of commercial spaces: restaurants, outlets, etc.;
- other: cinematographic distribution and production, and technical services (primarily technical assistance and projector maintenance; Decatron).