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Debt spiralling out of control for many B C consumers, businesses
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Debt spiralling out of control for many B C consumers, businesses
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Cineplex sells blowout bond deal as investors bet on recovery
Esteban Duarte, Bloomberg News VIDEO SIGN OUT
Cineplex Inc. sold its $250 million sale of unrated bonds at a lower yield than previously offered after seeing strong demand from investors seeking to play the economic recovery trade.
Canadaâs largest chain of movie theaters priced the second-lien secured senior notes due 2026 to yield 7.5 per cent, according to people familiar with the matter. That compares with an earlier guidance between 7.5 per cent and 7.75 per cent and preliminary discussions with investors Thursday for 8 per cent to 8.25 per cent, said the people, who asked not to be named before the deal is completed.