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Economic news

Debt-laden theater chain AMC reaches new refinancing deal

07/22/2024

Less than a minute

2024.07.22 14:23

(Reuters) -AMC Entertainment Holdings said on Monday it had reached an agreement with creditors that extends up to $2.45 billion of debt maturities from 2026 to 2029 and beyond.

Under the terms of the deal, AMC will issue $1.2 billion of new secured term loans due 2029 in consideration for an open market purchase of senior secured term loans due 2026.

AMC and its units will also issue about $414 million of exchangeable notes for cash, with proceeds used to repurchase roughly $414 million of second-lien notes.

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07/22/2024

Less than a minute