Regal Cinemas, one of the world’s largest movie theater chains, has secured new financing to restructure a portion of its debt. The exhibition company has arranged a $1.9 billion loan that extends maturity dates to as far out as Dec.

In July, Regal said it had secured $250 million to give its theaters an upgrade and refurbish its already existing locations (425 theaters across the country) with luxury recliners and other amenities. The company’s owner, Cineworld, filed for Chapter 11 bankruptcy in September 2022 and emerged from its restructuring process last year.

Regal Cineworld Group has secured a new $1.9 billion in Term Loan B facility. The new facility is priced at SOFR + 525 bps with a maturity date of Dec. 1, 2031, and replaces the Group’s existing Term Loan B.

The theater chain says it will save $60 million in interest expense as it anticipates continued box office growth thanks to Moana 2 and Wicked