Cinepolis Enlists Lazard to Save Its Global Web of Posh Cinemas

Cinepolis de Mexico SA, Mexico’s biggest chain of cinemas, is seeking to restructure more than $1 billion in loans, Bloomberg News reported. The global movie theater giant has enlisted Lazard Ltd. for talks with lenders including Banco Bilbao Vizcaya Argentaria SA, HSBC Holdings Plc, Banco Santander SA and the Mexican government development bank Bancomext, the people said. Talks started early last month and the banks picked FTI Consulting Inc. as their adviser. Some of the debt includes a 7.5 billion peso ($382 million) term loan due 2023, a $200 million revolver due 2024 and 9.75 billion peso guaranteed term loan due 2026. Combined with obligations tied to operations in India, Brazil and the Middle East, the talks cover $1.35 billion of debt from at least 17 banks. Read more.