Carmike Cinemas, Inc. today announced its plans to offer, subject to market and other conditions, $230 million in aggregate principal amount of Senior Secured Notes due 2023 to "qualified institutional buyers," as defined in Rule 144A under the Securities Act of 1933, as amended, and non-U.S. persons outside the United States under Regulation S under the Securities Act of 1933, as amended.

Carmike also expects to refinance its existing credit facility with a new $50 million senior secured credit facility. Carmike expects the new credit facility to remain undrawn at closing.

Carmike intends to use the proceeds of the offering and cash on hand to redeem all $210 million in aggregate principal amount of its 7.375% Senior Secured Notes due 2019, and to pay related fees and expenses.

The senior notes will not be registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act of 1933 and any applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.