Yelmo obtains new financing

Madrid-based exhib secures new $54.5 million credit facility

Yelmo Cineplex, a Spanish joint venture between Loews Cineplex and Yelmo Films, said Monday it has secured a new $54.5 million credit facility to fund new construction.

Participants include Bank of America, Barclays Capital and Deutsche Bank AG London.

The Madrid-based exhib said the facility will help finance projects starting in the fourth quarter and extending into 2003. Some eight additional multiplexes are planned in that expansion.

Yelmo Cineplex operates 35 theaters with a total 267 screens throughout Spain.

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