CINEWORLD has secured 200million US dollars in loans to shore up its finances and said it is excited about an “unprecedented slate of films” for the second half of the year.

The chain – which runs Poole’s 16-screen multiplex at Tower Park – said trading had “continued to improve” since cinemas began reopening in April after the winter lockdown.

It secured 200m dollars’ worth of incremental loans from existing lenders, which will mature in May 2024.

It has also amended covenants on existing debt to improve its financial position.

The business said the move would provide it with the “financial and operational flexibility and resilience to execute on its business strategy as it resumes its operations”.

Cineworld, which also operates the Picturehouse chain in the UK and Regal cinemas in the US, said it was “well-positioned” to benefit from pent-up demand and a strong roster of films due later in the year. Those include delayed titles such as the latest James Bond film No Time To Die and Top Gun films.

Chief executive Mooky Greidinger said: “We are monitoring the evolution of the virus and its potential impact on our business, but we are very excited about the potential of the unprecedented slate of films in the second half of 2021 – mainly in the fourth quarter.

“We remain confident in the prospects for our business and continue to look forward to welcoming our customers back to the best place to watch a movie.

“The additional liquidity announced today provides the group with significant operating flexibility now that cinemas have opened across the world.”