Brief: EPR Properties Announces Comprehensive Restructuring Agreement, Master Lease With Regal Cinemas Management

Cineworld

28/06/2023 22:35

June 28 (Reuters) - EPR Properties  EPR.N :
    * EPR PROPERTIES ANNOUNCES COMPREHENSIVE RESTRUCTURING
AGREEMENT
AND MASTER LEASE WITH REGAL CINEMAS; MANAGEMENT TO HOST
CONFERENCE CALL
    * EPR PROPERTIES - RESTRUCTURED PORTFOLIO EXPECTED TO
ACHIEVE 96%
OF TOTAL PRE-BANKRUPTCY RENT IN 2024
    * EPR PROPERTIES - CO WILL ALSO REDUCE ITS FOOTPRINT WITH
REGAL BY
TAKING BACK 16 THEATRES PREVIOUSLY OPERATED BY REGAL
    * EPR PROPERTIES - AS PART OF COMPANY'S STRATEGY TO REDUCE
ITS
OVERALL THEATRE FOOTPRINT, REMAINING 11 THEATRES WILL BE
MARKETED FOR SALE
    * EPR PROPERTIES: IN CONJUNCTION WITH TAKING BACK
SURRENDERED
PROPERTIES, SEES NON-CASH IMPAIRMENT CHARGE IN Q2 OF $50 MILLION
ON RECENTLY APPRAISED VALUES
    * EPR PROPERTIES - CO WILL ALSO REDUCE ITS FOOTPRINT WITH
REGAL BY
TAKING BACK 16 THEATRES PREVIOUSLY OPERATED BY REGAL

Source text for Eikon:  ID:nBwc3D5CPa 
Further company coverage:  EPR.N 

 ((Reuters.Briefs@thomsonreuters.com;))