AMC Entertainment (AMC) has issued an announcement.
AMC Entertainment Holdings, Inc. successfully carried out refinancing transactions on July 22, 2024, to extend the maturity of approximately $1.6 billion in debt from 2026 to 2029 and 2030, with the potential for an additional $800 million in refinancing. To facilitate this, AMC, through its subsidiary Muvico, secured $1.2 billion in new term loans and completed a private offering of $414.4 million in senior secured exchangeable notes, which are convertible into AMC’s Class A common stock. The proceeds from these offerings were used to repurchase existing senior secured term loans and second lien notes, with the possibility of raising more funds through additional notes to repurchase other outstanding debt. This strategic financial restructuring aims to bolster AMC’s financial position by extending debt maturities and providing operational flexibility.
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