AMC Completes $3.97 Billion Refinancing, Extending Debt Maturities to 2031 and 2033

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Summary · why it matters

AMC Entertainment Holdings announced it has completed a $3.97 billion refinancing of its existing debt, extending nearly all of its maturities to October 2031 and October 2033. The transaction comprised three components: $2,000 million aggregate principal amount of first lien notes due 2031, a new $850 million first lien term loan facility, and a new second lien term loan facility provided by Deutsche Bank Special Situations Group in an aggregate principal amount of $1,120 million. Proceeds, together with cash on hand, funded the tender offer for AMC's 7.500% Senior Secured Notes due 2029, in which $355,515,000 aggregate principal amount, or approximately 98.8% of the $359,964,500 outstanding, were validly tendered and settled on October 5, 2026, and will fund the redemption of any remaining notes on or about February 15, 2027, the full redemption of Muvico's $903.4 million of Senior Secured Notes due 2029, and repayment of AMC's and Odeon Finco PLC's existing term loan facilities. Chairman and CEO Adam Aron called the deal a significant milestone, saying it refinanced approximately 97% of AMC's debt, simplified its capital structure and reduced its cost of capital, and noted that AMC has paid down nearly $2 billion of long-term debt and COVID-related lease deferrals since 2020, leaving a remaining debt load of approximately $4 billion. The notes and related guarantees were offered only to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.

Impact on assets 2

Communication Services▲
AMC Entertainment Holdings Inc
AMC
▲ PositiveCapitalrelevance

AMC completed a $3.97B refinancing extending nearly all debt maturities to 2031/2033, simplifying its capital structure and lowering its cost of capital.

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Off-coverage companies 2

Muvico, LLCi
Private▲ PositiveCapitalrelevance

The refinancing funds the full redemption of Muvico's $903.4 million of Senior Secured Notes due 2029, retiring that debt.

Odeon Finco PLCi
Private▲ PositiveCapitalrelevance

Proceeds will repay Odeon Finco PLC's existing term loan facility as part of AMC's refinancing.