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Theater chain AMC reaches new refinancing deal

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(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.

© Reuters. FILE PHOTO: People walk by an AMC theatre in Burbank, California, U.S., October 12, 2023. REUTERS/Mario Anzuoni/File Photo

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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