AMC Theatres Refinances Debt in Deals Extending Due Dates by at Least Three Years
variety.comRebecca Rubin Senior Film and Media Reporter AMC Theatres, the world’s largest cinema chain, reached an agreement to restructure a portion of its debt to extend maturity dates by at least three years, the company said Monday.
AMC Theatres is currently saddled with $4.5 billion in debt, including more than $2.8 billion of maturities that were due in 2026.
Because of the looming deadline, the company had been weighing debt-extension proposals. With the new refinancing transactions, AMC will be able to prolong the maturity of approximately $1.6 billion in debt due in 2026 to 2029 and 2030.
The cinema chain also plans to steady its balance sheet by arranging for the potential repurchase of up to $800 million of additional existing debt due in 2026, as well as issuing $414 million of new debt due in 2030.
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