AMC Networks Sells $1 Billion of Junk-Bonds for Debt Repurchase

AMC Networks Inc. got traction in its first foray into the junk-bond market in four years, selling $1 billion of notes, $250 million more than what it initially sought.

The producer of shows including “Mad Men,” “The Walking Dead” and “Breaking Bad” issued the eight-year notes at a yield of 5 percent, according to data compiled by Bloomberg. That’s less than the 5.7 percent average yield investors demand to hold bonds of similarly-rated companies, according to Bank of America Merrill Lynch index data.