CNNWF - Cineworld holders approve suspending borrowing limit

Cineworld (CNNWF) shareholders overwhelmingly approved a plan to suspend the company's borrowing limit, relieving a pressure valve as the cinema chain struggles hopefully toward the end of the COVID-19 pandemic. Cineworld is the UK-based owner of Regal, the No. 2 U.S. movie-theater chain. The approval allows Cineworld to move forward with issuing £213M in convertible bonds even as its theaters start to reopen in the U.S. and UK. The company had about $8.32B in debt at the end of 2020 (including $4.63B in long-term debt, and $3.375B in capital leases).

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Cineworld holders approve suspending borrowing limit