Success Stories
Funds Secured

Refinancing More Than $1.25 Billion in Debt for Cinépolis’ Lenders

Funds Secured

Refinancing More Than $1.25 Billion in Debt for Cinépolis’ Lenders

Vicente GonzalezBrock Edgar
Key Contacts
Vicente Gonzalez and Brock Edgar

Helping Mexico’s flagship cinema chain keep the lights on when the theaters went dark.

As a result of government-mandated theater closures and a halt in new movie releases during the COVID-19 pandemic, Cinépolis, the world’s second-largest theatrical exhibitor, experienced a dramatic decrease in revenues during 2020 and early 2021. Due to the reduction in liquidity, Cinépolis suspended its debt service payments and commenced restructuring negotiations with its lenders.

Our Impact

FTI Consulting served as the financial advisor to the unsecured lenders — a group of 19 financial institutions representing more than $1.25 billion in debt — and helped the lenders exchange their unsecured claims for secured claims.

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Cinépolis was able to obtain enough liquidity to operate through the transition period from a combination of new debt and equity that totalled $300 million.

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The complexity of the deal earned Cinépolis the Restructuring of the Year award from both Latin Finance Magazine and BBVA in 2021.

In crisis and transformation,real-world experience delivers.

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Our Role

Insightful and timely analysis for a long-term viable solution

FTI Consulting aided the unsecured lenders of Cinépolis as the company took steps to address the negative financial impact of the COVID-19 pandemic.

  1. The team performed an expedited review of Cinépolis’ business plan to analyze its short-term and long-term outlook.

  2. Experts stress-tested the liquidity outlook to ensure cash would be sufficient in the event of a delayed recovery.

  3. FTI Consulting reviewed the company’s monthly results for two years after the restructuring and produced reports that enabled the lenders to monitor its recovery.

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