AMC Entertainment Holdings, Inc. has announced its intention to offer $1,730 million aggregate principal amount of first lien notes due 2031 in a private offering. The notes will be guaranteed by the company and its subsidiaries and are intended to be used to fund the redemption of $400 million aggregate principal amount of 12.750% senior secured notes due 2027 issued by Odeon Finco plc, as well as to refinance the company’s existing term loan facility and pay related fees, costs, premiums, and expenses.
Concurrently with the offering, Odeon delivered a notice of conditional full redemption to holders of the Odeon notes, conditioned upon the issuance of at least $2,480 million in aggregate gross proceeds from debt financing transactions, including the offering and a new term loan facility.
AMC Entertainment Holdings, Inc. is the largest movie exhibition company in the United States, Europe, and globally, with approximately 855 theaters and 9,640 screens. The company has been at the forefront of innovation in the exhibition industry, offering power-recliner seats, enhanced food and beverage choices, loyalty and subscription programs, premium large format experiences, and a wide variety of content.
These developments mark a significant financial move for AMC Entertainment Holdings, Inc., and it will be interesting to see how the offering and potential redemption of Odeon notes will impact the company's financial position in the coming period. Today the company's shares have moved 0.62% to a price of $1.61. If you want to know more, read the company's complete 8-K report here.
