Vue: the sub debt sequel delivers

Movie camera 230x150
By Owen Sanderson
20 Jun 2019

Vue International’s revamped refinancing let the credits roll in, delivering a far better performance than the original showing last year, thanks to part-owner Omers injecting £165m of subordinated debt, strong market conditions, and a successful six months for the cinema chain.

The company had tried to refinance its capital structure from bonds to loans in November last year, in an all-senior deal that included a sterling tranche. But Brexit uncertainty and weak market conditions killed the deal, with only a €114m delayed draw tranche placed in the market just ...

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