Press Releases

Vue International (“Vue”), one of the world’s leading cinema operators, today announces the successful pricing of a €120 million, Covenant-Lite, 7-year, Term Loan B, through Vougeot Bidco plc (the “Borrower”). The facility was pre-marketed to a limited group of investors and placed privately after significant oversubscription.

The proceeds will be used to pay consideration for the transfer of JT Bioscopen (“JT”) on a debt free basis into Vue’s Restricted Group (as defined in the Senior Secured Floating Rate Notes issued by the Borrower) with excess proceeds providing a strategic reserve for general corporate purposes. This meets Vue’s previous commitment to bring the JT business into its existing bond group.

Following the acquisition of JT in August 2015, the award winning* opening of the Alkmaar multiplex in February 2016 marked the roll out of the Vue brand in the Netherlands where the estate is being re-branded Vue Nederland and VIP and recliner seats are being installed over the course of 2016.

Alison Cornwell, CFO Vue International, commented: 

“We are delighted with the level of investor interest in Vue’s credit and it reinforces that the market appreciates a diversified growth story. This allows us to follow through on our previous commitment to existing noteholders that we would bring JT Bioscopen into the bond group during 2016."

Morgan Stanley and Lloyds Bank acted as Joint Bookrunners on the offering with Morgan Stanley co-ordinating the transaction on behalf of Vue.

Ends. 

 

Notes to Editor

Media enquiries

Brian Buckley/Rosheeka Field
Brunswick Group LLP 
Telephone: 0207 404 5959 
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.

Lucy Northmore
Group PR Manager, Vue Entertainment 
Telephone: 07921887296
Email:This email address is being protected from spambots. You need JavaScript enabled to view it.