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AMC Amends Debt Deal in Move to Buy More Time and Raise Cash

  • Movie theater chain gets support from majority of bondholders
  • Debt exchange offer may provide $300 million of new money
AMC Movie Theatres Ahead Of Earnings Figures
Photographer: Andrew Harrer/Bloomberg

AMC Entertainment Holdings Inc. and bondholders agreed to a debt overhaul that provides cash and time to repay its borrowings while it tries to withstand the shuttering of its movie theaters amid the pandemic.

The company is asking holders of existing subordinated notes to swap for new second-lien secured notes due 2026 that would pay interest as 10% cash or 12% in the form of more notes, according to a statement.