UK's Cineworld to file for administration as part of restructuring

Cineworld

26/06/2023 07:06

June 26 (Reuters) - Cineworld Group  CINE.L  on Monday
said it will file for administration as part of a proposed
restructuring plan. 
    The proposed restructuring will involve the release of about
$4.53 billion of the group's funded indebtedness, the execution
of a rights offering to raise gross proceeds of $800 million and
provision of $1.46 billion in new debt financing, the company
said. 

 (Reporting by Eva Mathews in Bengaluru; Editing by Dhanya Ann
Thoppil)
 ((Eva.Mathews@thomsonreuters.com;))