- Cineworld (OTCPK: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).