US court approves Cineworld's restructuring plan
29/06/2023 07:08
June 29 (Reuters) - British cinema chain operator
Cineworld Group CINE.L said on Wednesday that a U.S. court had
approved its debt restructuring plan.
The company, which filed for Chapter 11 protection in the
U.S. last year, said it continued to expect to emerge out of
bankruptcy in July.
The proposed restructuring involves the release of about
$4.53 billion of the group's debt, a rights offering to raise
gross proceeds of $800 million and the provision of $1.46
billion in new debt financing, Cineworld had said.
(Reporting by Eva Mathews and Aby Jose Koilparambil in
Bengaluru; Editing by Rashmi Aich)
((Eva.Mathews@thomsonreuters.com;))