Lenders are breathing a sigh of relief at cineworld's aborted takeover of Canada's Cineplex as US$2.23bn of loans are effectively cancelled, letting them off the hook for losses that would have been booked had the deal closed. Cineworld had lined up a US$1.93bn secured incremental Term Loan B and an approximate US$300m unsecured bridge loan to back the US$1.65bn acquisition, which was underwritten by Bank of America, HSBC and Goldman Sachs. The longstop date on the financing is in the second week of July.
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