Cinemark (NYSE: CNK) trims term loan rate in fifth credit amendment
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Cinemark Holdings, Inc. and its wholly owned subsidiary Cinemark USA, Inc. entered into a Fifth Amendment to their Second Amended and Restated Credit Agreement. The amendment reduces the interest rate on the company’s term loans by 0.25 percentage points and resets the 101% soft call provision for six months. Barclays Bank PLC continues to act as administrative agent under the amended agreement.
Positive
- None.
Negative
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8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Term loan interest reduction: 0.25 percentage points
Soft call level: 101%
Fifth Amendment date: May 12, 2026
+3 more
6 metrics
Term loan interest reduction
0.25 percentage points
Rate at which Cinemark term loans bear interest reduced by 0.25%
Soft call level
101%
Soft call reset at 101% for six months
Fifth Amendment date
May 12, 2026
Date of Fifth Amendment to credit agreement
Original restated agreement date
May 26, 2023
Second Amended and Restated Credit Agreement date
First Amendment date
May 28, 2024
First Amendment to credit agreement
Fourth Amendment date
September 5, 2025
Fourth Amendment to credit agreement
Key Terms
Fifth Amendment, Second Amended and Restated Credit Agreement, soft call, administrative agent, +1 more
5 terms
Fifth Amendment financial
"entered into a Fifth Amendment (the “ Fifth Amendment ”) to the Second Amended and Restated Credit Agreement"
Second Amended and Restated Credit Agreement financial
"Fifth Amendment to the Second Amended and Restated Credit Agreement, dated as of May 26, 2023"
A second amended and restated credit agreement is a company’s loan contract that has been changed twice and rewritten into a single, updated document so all the terms are clear in one place. Investors care because it alters the company’s debt rules — such as interest rates, repayment schedule, and covenants — which affects cash flow, default risk, and the ability to invest or pay dividends; think of it like refinancing and reorganizing a mortgage that changes monthly payments and rules.
soft call financial
"reduce the rate at which the term loans bear interest by 0.25% and reset the 101% soft call for six months"
administrative agent financial
"Barclays Bank PLC, as administrative agent"
An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.
emerging growth company regulatory
"Emerging growth company On May 12, 2026, Cinemark Holdings, Inc."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What did Cinemark (CNK) change in its credit agreement?
Cinemark and Cinemark USA entered a Fifth Amendment to their Second Amended and Restated Credit Agreement. The amendment chiefly lowers the term loan interest rate by 0.25 percentage points and resets a 101% soft call provision for six months.
How does the Fifth Amendment affect Cinemark (CNK) term loan interest?
The Fifth Amendment reduces the interest rate on Cinemark’s term loans by 0.25 percentage points. This smaller rate means the company will pay slightly less interest expense on those loans under the amended credit agreement terms.
What is the 101% soft call reset mentioned by Cinemark (CNK)?
The amendment resets a 101% soft call provision for six months. A soft call typically defines the price at which loans can be refinanced or repaid, and here it is set at 101% of principal during that reset period.
Who is the administrative agent under Cinemark’s amended credit agreement?
Barclays Bank PLC serves as administrative agent under the Second Amended and Restated Credit Agreement. It continues in this role under the Fifth Amendment, coordinating between Cinemark, Cinemark USA, and the several banks and other lenders party to the agreement.
When was Cinemark’s Fifth Amendment to the credit agreement signed?
The Fifth Amendment to the Second Amended and Restated Credit Agreement was dated May 12, 2026. This follows earlier amendments dated May 28, 2024, November 29, 2024, June 30, 2025, and September 5, 2025.