AMC Agrees on Amendment With Creditors to Clear Refinancing Path
An AMC movie theater in San Francisco. The company expects to post a net loss of $632.4 million for 2025.
Photographer: David Paul Morris/BloombergAMC Entertainment Holdings, Inc. reached a deal with a group of creditors to change the terms in one of its notes, making it easier for the cinema chain to refinance its debt, according to a filing on Thursday.
The company and some holders of its 15% Muvico LLC senior secured notes due in 2029 reached a deal to amend a covenant that prohibited the company from refinancing its Muvico and Odeon subsidiaries together unless there was also capacity to refinance the notes, according to the filing. In exchange, they will receive a consent premium equal to $18.9 million, payable in shares of AMC’s Class A common stock, pro rata based on the percentage of notes held.