0000716634-14-000034.txt : 20141202 0000716634-14-000034.hdr.sgml : 20141202 20141202171938 ACCESSION NUMBER: 0000716634-14-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20141202 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events FILED AS OF DATE: 20141202 DATE AS OF CHANGE: 20141202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: READING INTERNATIONAL INC CENTRAL INDEX KEY: 0000716634 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE THEATERS [7830] IRS NUMBER: 953885184 STATE OF INCORPORATION: NV FISCAL YEAR END: 0114 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08625 FILM NUMBER: 141261440 BUSINESS ADDRESS: STREET 1: 6100 CENTER DRIVE STREET 2: SUITE 900 CITY: LOS ANGELES STATE: CA ZIP: 90045 BUSINESS PHONE: 213 235 2240 MAIL ADDRESS: STREET 1: 6100 CENTER DRIVE STREET 2: SUITE 900 CITY: LOS ANGELES STATE: CA ZIP: 90045 FORMER COMPANY: FORMER CONFORMED NAME: CITADEL HOLDING CORP DATE OF NAME CHANGE: 19941216 8-K 1 rdi-20141202x8k.htm 8-K Debt facility 120214

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,  DC 20549 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported):  December 2, 2014

 

Reading International, Inc.
(Exact Name of Registrant as Specified in its Charter)

 

Nevada 

1-8625

95-3885184

(State or Other Jurisdiction
of Incorporation)

(Commission
File Number)

(IRS Employer
Identification No.)

 

 

 

6100 Center Drive, Suite 900, Los Angeles, California

90045

(Address of Principal Executive Offices)

(Zip Code)

 

Registrant's telephone number, including area code:  (213) 235-2240

 

N/A

 (Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 1.01.  Entry into a Material Definitive Agreement.

 

Bank of America (“BofA”) Credit Facility

 

On November 28, 2014 we refinanced our existing $35.0 million ($29.8 outstanding) term loan with BofA.  The new facility, a $55.0 million revolving credit facility, includes a $5.0 million sublimit for the issuance of standby letters of credit and a $1.0 million sublimit for swingline loans. The proceeds of the facility will be used (a) to refinance the existing BofA facility and (b) for general corporate purposes.

The facility is with our wholly owned subsidiary Consolidated Amusements Holdings LLC (“CAHLLC”) but does allow for the use of up to $27.0 million of the facility to finance our other domestic activities.  CAHLLC holds the majority of our domestic leased cinemas, and it has pledged these in support of this facility.  The facility has a 5-year term, at which time all amounts outstanding are due and payable.

Interest is based on LIBOR plus a variable margin of between 3.0% and 2.5%.   Financial covenants are in line with usual and customary covenants for business loans of this nature.  

 

Item 8.01.  Other Events.

 

Postponement of CFO Retirement Date

 

Mr. Matyczynski has agreed to postpone his retirement and to continue to serve as chief financial officer until  June 1, 2015 on essentially the same terms as he is currently employed by us.  Thereafter, Mr. Matyczynski will continue to be available to us on a consulting basis, to further assist in maintaining continuity in the chief financial officer function.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

READING INTERNATIONAL, INC.

 

 

 

Date: December 2, 2014

By:

/s/ Andrzej Matyczynski

 

Name:

Andrzej Matyczynski

 

Title:

Chief Financial Officer

 

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