Cineplex Inc. (TSX: CGX) announced an amendment to its bank credit agreement that extends the maturity date from March 4, 2027 to either September 18, 2028 or March 18, 2029, depending on whether the company's existing 7.625% senior secured notes due March 31, 2029 are repaid, redeemed or refinanced.

The amendment replaces certain benchmark reference rates from "Adjusted Term SOFR" to "Term SOFR" and provides additional flexibility for permitted distributions and debt repayments in connection with property sales, subject to existing restrictions under the company's debt agreements.

The bank credit agreement maintains its structure as a $100 million "covenant-lite" revolving credit facility. The agreement does not contain financial maintenance covenants unless borrowings, including letters of credit, exceed 40% of the total credit facility. As of December 31, 2025, no amounts were drawn under the credit facility, with $7.7 million reserved in letters of credit.

"We are pleased with the ongoing support of our lending group with this extension and the continuation of the 'covenant-lite' structure," said Ellis Jacob, President and CEO. "This continues to provide us with flexibility and a strong liquidity profile."

The Canadian entertainment company operates 170 movie theatres and location-based entertainment venues. The amendment documentation will be filed under the company's profile on SEDAR+.