AMC Entertainment Inks Key Refinancing Deal With Lenders, A Relief For Chain And Its Shareholders
deadline.comAMC Entertainment had some good news today as long talks with lenders have resulted in collaborative refinancing transactions that extend up to $2.45 million in debt maturities from 2026 to 2029 and beyond.
The company called the deals “transformative” and said they’ll strengthen the balance sheet, pave the way for future de-levering, and align the capital structure with the expected industry growth trajectory.
The transactions include: $1.2 billion of new secured term loans due 2029 issued in consideration for an open market purchase of Senior Secured Term Loans due 2026, with a potential to extend an additional $800 million of 2026 maturities to 2029.
And $500 million of 10%/12% Cash/PIK Toggle Second Lien Subordinated Secured Notes due 2026 exchanged into new secured term loans due 2029 or repurchased with proceeds of $414 million new exchangeable notes due 2030.
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