AMC Completes Major Debt Restructuring Deal

AMC Entertainment Holdings, Inc. has successfully executed a significant debt refinancing transaction, extending approximately $1.6 billion in debt maturities from 2026 to 2029 and beyond, while also securing up to $800 million in additional refinancing options. This strategic move includes a $1.2 billion issuance of new term loans and a private offering of $414 million in exchangeable notes. CEO Adam Aron expressed optimism about the company's future, attributing the agreement to strong lender support and a belief in an impending box office recovery. The restructuring also involves transferring ownership of 175 theaters to protect their value from creditors, facilitating the exchange of existing debts for new obligations. AMC aims to reduce its debt by potentially converting some notes into equity, representing a transformative step towards stabilizing its financial position amidst ongoing challenges in the film industry.