AMC Entertainment's New Refinancing Agreement Aims to Alleviate Debt Burden
Monday, 22 July 2024, 17:56
AMC Entertainment's Refinancing Strategy
AMC Entertainment has reached a new refinancing agreement aimed at reducing its substantial debt load.
Key Details of the Deal
- Debt Reduction: The agreement will allow AMC to lower its debt by $464 million.
- New Loans Issuance: AMC will issue $1.2 billion in new secured term loans due in 2029.
- Exchangeable Notes: About $414 million of exchangeable notes will be issued for cash.
- Purpose of Proceeds: Funds raised will be used to repurchase roughly $414 million of second-lien notes.
This refinancing deal is crucial for AMC as it aims to strengthen its financial standing and ensure its operational sustainability.
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