- Cinema group Cineworld said it expected to reopen all cinemas by July, and added that it had struck a deal with its lenders to ease the terms of its debt arrangements.

Lenders agreed to waive the leverage covenant in respect of the company's credit facility for the June 2020 testing date and had increased its leverage covenant to 9.0x net debt to earnings (EBITDA) for the December 2020 testing date, the company said.

'Cineworld expects that this additional liquidity, to the extent required, will provide it with sufficient headroom to support the group even in the unlikely event cinemas remain closed until the end of the year,' it added.

The movie line up to follow the reopening of cinemas, would start with the new Chris Nolan movie Tenet and immediately be followed by Mulan, a new Disney adventure movie. At 8:33am: [LON:CINE] Cineworld Group PLC share price was +19.03p at 96.31p

Story provided by