struggling as its cinemas have been shuttered by coronavirus lockdowns, saw its stock surge nearly 10 percent Wednesday on reports that it’s nearing a debt restructuring deal to avoid bankruptcyThe company, which operates about 1,000 theaters globally, has been trying for weeks to get bond holders to agree to swap debt at a discount but only a relatively small percentage had agreed as of June 30.
On Tuesday, the firm said in a securities filing that lenders had extended the deadline.However, AMC is nearing a deal for bondholders to provide it a $200 million senior loan and exchange subordinated debt for new senior debt, according to a Wednesday report from The Wall Street Journal.The Post first reported in April that the nation’s biggest.
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