Carmike Cinemas Announces Completion of Refinancing

Carmike Cinemas, Inc. CKEC announced today the completion of its previously announced refinancing transactions, including its unregistered offering of $210 million aggregate principal amount of 7.375% Senior Secured Notes due 2019, pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. Carmike also entered into a new $25 million senior secured revolving credit facility, which was undrawn at closing. A portion of the net proceeds from the offering of the Senior Secured Notes was used to retire Carmike's existing term loan and to pay fees and expenses associated with the offering. The remainder of the net proceeds are expected to be used for general corporate purposes. In connection with the refinancing, Carmike also terminated its existing $30 million revolving credit facility.