Delphos International served as the sole financial advisor to Cinepax Limited (“Cinepax”), the leading motion picture exhibitor and cinema chain operator in Pakistan, in obtaining debt support from the Overseas Private Investment Corporation, the U.S. government’s development finance institution (“OPIC”). OPIC’s $9 million long-term loan will help finance five new modern cinema multiplexes in several cities in Pakistan. The direct loan achieved first disbursement in March 2016.
Cinepax operates the largest cinema network in Pakistan and is expanding rapidly. In order to facilitate the company’s expansion plans and to accommodate future financings, Delphos advised Cinepax on a demerger strategy: creating a new ring-fenced project company that acts as OPIC’s borrower. The company aspires to deliver much-needed social infrastructure in Pakistan and provide quality family entertainment in a safe and welcoming environment.