AMC $425M Debt Pushed to 2031 - Why it's a WIN

Описание: AMC $425M Debt Pushed to 2031 - Why it's a WIN! AMC announced Friday March 6th that the Company, together with its wholly-owned subsidiary Odeon Finco PLC (“Odeon”), have entered into a commitment letter with Deutsche Bank AG New York Branch providing for a new senior secured credit facility of Odeon in an aggregate principal amount of up to $425,000,000 (the “Odeon Credit Facility”). Odeon intends to use the proceeds of the Odeon Credit Facility, if consummated, to refinance its existing 12.750% Senior Secured Notes due 2027 (the “Odeon Notes”) and pay related fees and expenses. The Odeon Credit Facility is expected to strengthen the Company’s balance sheet, extend debt maturities, and reduce interest rates while preserving flexibility to streamline and simplify the capital structure. In connection with entering into the commitment letter, the Company has decided not to proceed with its previously announced offering of senior notes and new term loan facility at this time. The Odeon Credit Facility is expected to consist of a senior secured term loan due 2031, with a fixed 10.50% interest rate and is expected to be issued with 2.00% original issue discount. The final terms of the Odeon Credit Facility, including the senior secured term loan, will be subject to execution of definitive credit documentation and the satisfaction of customary closing conditions. The Odeon Credit Facility is expected to close on or before April 6, 2026. #TonyDenaro #AMC #Debt

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