AMC prices a $3.97bn refinancing package with maturities in 2031
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AMC priced a $3.97bn refinancing package. The September 24 filing sets out $2bn of 8.875 percent first-lien notes due 2031 and $850m of first-lien term loans at SOFR plus 4.50 percentage points.
A previously announced second-lien facility adds $1.12bn. Closing is expected around October 5.
The company plans to use the proceeds and cash to repay several 2029 obligations. Those include AMC notes carrying a 7.5 percent coupon, $903.4m of Muvico notes, and existing AMC and Odeon term loans. The package pushes those maturities into 2031, while the new $2bn note issue carries a higher coupon than the AMC notes it targets.
