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Thursday, June 1, 2023

Cirque du Soleil Entertainment Group Announces Refinancing of Corporate Debt

montreal, March 8, 2023 /PRNewswire/ — Cirque du Soleil Entertainment Group (“Cirque du Soleil” or “the Company”), the global leader in live entertainment, announced today that it has successfully closed a $550 million Issue Term Loan B to refinance its existing debt and issue new $100 million Revolving Credit Facility.Through this transaction, the company’s total debt was reduced by more than $100 million And to further deleverage its balance sheet. Refinancing will save significant interest costs, which will strengthen the company’s financial position and increase cash flow.

“We are pleased to have successfully completed this refinancing and establishment of a new credit facility, which will provide us with the flexibility to continue innovating, pursuing strategic initiatives and investing in growth opportunities,” said Emmanuelle Leclerc-Granger, CFO of Cirque du Soleil Entertainment Group. “We are grateful for the support of our lenders and investors, who share our vision for the future of the company, and we believe in our ability to continue delivering an exceptional experience to audiences around the world.”

In conjunction with the refinancing, Standard & Poor’s and Moody’s have upgraded Cirque du Soleil Entertainment Group’s corporate credit rating from B/B3 (outlook stable) to B+/B2 (outlook stable), which is the third/second consecutive upgrade for the group . institutions in the past year.

“We are pleased to receive these rating upgrades from S&P and Moody’s, which are recognition of our continued efforts to strengthen our financial position and drive sustainable growth,” added Emmanuelle Leclerc-Granger“This transaction reflects our commitment to maintaining a strong balance sheet and liquidity position, while also investing in our business to ensure a bright future for our audience and partners.”

About Cirque du Soleil Entertainment Group

Cirque du Soleil Entertainment Group is the world leader in live entertainment. In addition to producing world-renowned circus arts performances, the company applies its creative approach to multiple forms of entertainment such as multimedia productions, immersive experiences and special events. Cirque du Soleil Entertainment Group aims to have a positive impact on people, communities and the planet through its creations.For more information on Cirque du Soleil Entertainment Group, please visit CDSentertainmentgroup.com.

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