On March 4, 2024, Cineplex Inc. finalized a comprehensive refinancing plan, which included a $575 million offering of 7.625% senior secured notes set to mature on March 31, 2029. Announced initially on February 8, 2024, this move marked a significant step in the company's financial restructuring.

The refinancing allowed Cineplex to fully redeem its existing 7.5% senior secured second lien notes due February 26, 2026. Additionally, the company settled its prior credit agreement with The Bank of Nova Scotia and established a new $100 million covenant-lite revolving credit facility, expiring on March 4, 2027.

Significant amendments were made to its 5.75% convertible debentures, now approved by about 89% of debenture holders. These changes, effective March 4, 2024, included an increase in the interest rate to 7.75% and an extension of the maturity date to March 1, 2030.

A partial redemption of $100 million in these convertible debentures also took place on March 11, 2024. This action led to a redemption price of approximately $1,049.11 per $1,000 principal amount, leaving $216.25 million in outstanding debentures.

The offerings, managed by a syndicate led by BMO Capital Markets and Scotiabank, were sold to accredited investors in Canada and qualified institutional buyers in the U.S. under specific securities law exemptions.