debt
confidence high
sentiment neutral
materiality 0.70
AMC subsidiary Muvico launches $1.73B first lien notes offering; conditionally redeems Odeon 12.75% notes
AMC ENTERTAINMENT HOLDINGS, INC.
- Muvico LLC offering $1,730M first lien notes due 2031; proceeds plus $750M new term loan and cash to redeem Odeon notes and refinance existing term loan.
- Odeon Finco conditional redemption of $400M 12.750% Senior Secured Notes due 2027 at 103.188% of principal plus accrued interest.
- Redemption conditioned on aggregate gross proceeds of at least $2,480M from one or more debt financing transactions.
- Notes unregistered, offered to QIBs under Rule 144A and non-U.S. investors under Regulation S; no assurance conditions will be satisfied.
- Notes guaranteed by AMC and subsidiaries that guarantee the new $750M term loan facility.