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RGC > SEC Filings for RGC > Form 8-K on 28-May-2013All Recent SEC Filings

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Form 8-K for REGAL ENTERTAINMENT GROUP


28-May-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financ


Item 1.01 Entry Into a Material Definitive Agreement.

On May 28, 2013, Regal Cinemas Corporation ("Regal Cinemas"), a wholly owned subsidiary of Regal Entertainment Group ("REG"), REG, Regal Entertainment Holdings, Inc. and the other affiliates of Regal Cinemas party thereto as guarantors entered into a Loan Modification Agreement with Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and the revolving lenders party thereto (the "Loan Modification Agreement").

The Loan Modification Agreement amends that Sixth Amended and Restated Credit Agreement, as previously amended, dated April 19, 2013, among Regal Cinemas, REG, Regal Entertainment Holdings, Inc., the other affiliates of Regal Cinemas party thereto as guarantors, Credit Suisse AG, Cayman Islands Branch and the lenders party thereto (the "Credit Agreement").

The Credit Agreement provides, among other things, for senior secured credit facilities consisting of term loans with an original principal balance of $1,006 million and a revolving credit facility (the "Revolving Facility") of up to $85 million. The Loan Modification Agreement amends the Credit Agreement by reducing the interest rate on the Revolving Facility by 1.00%. Specifically, the Loan Modification Agreement provides that, depending on the consolidated leverage ratio of Regal Cinemas and its subsidiaries, the applicable margin under the Revolving Facility for base rate loans will be either 1.50% or 1.75% and the applicable margin under the Revolving Facility for LIBOR rate loans will be either 2.50% or 2.75%. The Loan Modification Agreement also amends the Credit Agreement to extend the maturity date of the Revolving Facility from May 19, 2015 to May 19, 2017.

Except as amended by the Loan Modification Agreement, the remaining terms of the Credit Agreement remain in full force and effect.

The Loan Modification Agreement is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing summary of the Loan Modification Agreement is qualified in its entirety by reference to such Exhibit to this Current Report on Form 8-K.



Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The description of the Loan Modification Agreement in Item 1.01 is incorporated herein by reference.

Item 9.01.                     Exhibits.



(d)                 Exhibits.



Exhibit No.                            Exhibit Description
4.1           Loan Modification Agreement, dated May 28, 2013, among Regal Cinemas
              Corporation, Regal Entertainment Group, Regal Entertainment
              Holdings, Inc., the guarantors party thereto, Credit Suisse AG,
              Cayman Islands Branch and the lenders party thereto


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