05:25 PM EDT, 07/09/2024 (MT Newswires) -- Cinemark Holdings ( CNK ) said late Tuesday its Cinemark USA unit priced a $500 million private offering of 7% senior notes due 2032 at 100% of the principal amount plus applicable interest.

The company expects the offering to close July 18 and plans to use the net proceeds to help fund a cash tender offer for its 5.875% senior notes due 2026.

Cinemark shares were down almost 2% in after-hours activity.

Price: 21.31, Change: -0.36, Percent Change: -1.66