AMC•AMC Entertainment completed a $3.97 billion refinancing covering about 97% of its debt, extending almost all maturities to October 2031 and October 2033 and reducing its cost of capital. Its shares climbed 3.5%.
The transaction repays existing term loans and refinances debt due in 2029, simplifying AMC’s capital structure. The new structure includes $2 billion of first-lien notes due in 2031, $850 million of first-lien term loans and $1.12 billion in second-lien loans provided by Deutsche Bank Special Situations Group. Proceeds will repay several maturities dated 2029 and 2027, along with loans to subsidiary Odeon Finco. AMC has reported annual net losses consecutively since 2018, contributing to its debt burden and financing costs.
