AMC Entertainment Holdings, Inc. Announces Offering of First Lien Notes and Conditional …

AMC Entertainment Holdings, Inc. recently announced that its subsidiary, Muvico, LLC, has initiated an offering of first lien notes due 2031 for a total of $1,730 million. These Notes will be ensured jointly and severally by the Company and all its current and future wholly-owned subsidiaries that guarantee obligations under the New Term Loan Facility of $750 million, which will be established simultaneously with the Offering. The funds raised from the Offering, alongside the New Term Loan Facility and existing cash reserves, will be used to pay off $400 million of the 12.750% Senior Secured Notes due 2027 (Odeon Notes) issued by Odeon Finco PLC, a subsidiary of AMC. Additionally, the funds will be utilized to refinance the Company’s current term loan facility entirely and cover associated fees, costs, premiums, and expenses related to these transactions.

In conjunction with the Offering, Odeon has issued a conditional full redemption notice to the Odeon Notes holders, subject to the completion of debt financing transactions generating total gross proceeds of at least $2,480 million for the Company, its affiliates, and subsidiaries, including Odeon. The completion of the Redemption hinges on fulfilling these financial conditions promptly, although the Company may choose to waive them at its discretion.

The offering of the Notes and guarantees is targeted at qualified institutional buyers under Rule 144A of the Securities Act of 1933 and non-U.S. investors in compliance with Regulation S. Notably, the Notes have not been and will not be registered under the Securities Act or any other securities laws and can only be offered or sold within the United States under specific exemptions from registration requirements or in transactions exempt from registration mandates.

It is worth noting that this press release does not constitute a solicitation to buy or sell any security, nor an offer for such transactions in any jurisdiction where it would be illegal. Instead, this communication adheres to Rule 135c under the Securities Act’s regulations.

Finally, shareholders and investors should stay informed about the progress and implications of these financial transactions, as they play a crucial role in shaping the future financial landscape of AMC Entertainment Holdings, Inc. The Company’s strategic decisions regarding debt refinancing and redemptions are vital steps in its long-term financial stability and growth prospects in the entertainment industry.