The nation’s third largest exhibitor is selling off $250 million in debt securities, which are senior secured notes.
Cinemark CEO Mark Zoradi and the company’s board of directors recently announced that they will forgo their salaries while everything remains shut down.
The goal is to use the money for “general corporate purposes” until they are able to open their doors again.
The $250 million in senior secured notes will be guaranteed by company subsidiaries and are due in 2025, which Cinemark revealed in a statement earlier today.