MONTREAL, March 8, 2023 /CNW/ — Cirque du Soleil Leisure Group (“Cirque du Soleil” or “the Firm”), a worldwide chief in reside leisure, introduced immediately that it has efficiently closed a US$550 million time period mortgage B issuance to refinance its current debt, and issued a brand new US$100 million revolving credit score facility. With this transaction, the Firm lowered its whole debt by over US$100M and additional deleveraged its steadiness sheet. The refinancing will lead to important curiosity value financial savings, which is able to improve the Firm’s monetary place and enhance money movement.

“We’re delighted to have efficiently accomplished this refinancing and established a brand new credit score facility that can present us with the pliability to proceed to innovate, pursue strategic initiatives, and put money into development alternatives,” mentioned Emmanuelle Leclerc-Granger, Chief Monetary Officer of Cirque du Soleil Leisure Group. “We’re grateful for the assist of our lenders and traders, who share our imaginative and prescient for the way forward for the Firm, and we’re assured in our means to proceed to ship distinctive experiences to our viewers around the globe.”

Along side the refinancing, Commonplace & Poor’s and Moody’s have elevated their company credit standing on Cirque du Soleil Leisure Group to B+/B2 (secure outlook) from B/B3 (secure outlook), marking the third/second consecutive upgrades obtained from the companies within the final yr.

“We’re thrilled to have obtained these ranking upgrades from Commonplace & Poor’s and Moody’s, which acknowledge our ongoing efforts to strengthen our monetary place and drive sustainable development,” added Emmanuelle Leclerc-Granger. “This transaction displays our dedication to sustaining a robust steadiness sheet and liquidity place, whereas additionally investing in our enterprise to make sure a vivid future for our viewers and companions.”

About Cirque du Soleil Leisure Group 

Cirque du Soleil Leisure Group is a world chief in reside leisure. Along with producing world-renowned circus arts exhibits, the Firm brings its inventive method to a big number of leisure types, akin to multimedia productions, immersive experiences, and particular occasions. By its creations, Cirque du Soleil Leisure Group goals to affect folks, communities, and the planet positively. For extra details about Cirque du Soleil Leisure Group, please go to CDSentertainmentgroup.com.

SOURCE Cirque du Soleil

For additional data: Marie-Noëlle Caron, Company Public Relations Supervisor, Cirque du Soleil Leisure Group, [email protected]