Tags: AMC | loans | tender | offer

AMC Entertainment Seeks $300 Million in Loans for Tender Offer

Tuesday, 07 February 2012 11:19 AM

AMC Entertainment Inc., owner of the second-largest U.S. movie-theater chain, is seeking $300 million in term loans to fund a tender offer and to repay outstanding debt.

The new loans will mature in 2018, the Kansas City, Missouri-based company said today in a regulatory filing.

AMC plans to commence a cash tender offer to purchase as much as $160 million of its outstanding $300 million 8 percent senior subordinated notes due 2014, according to the filing.

Moody’s Investors Service rated the proposed term loan Ba2, saying in a report today that “the transaction favorably extends the maturity profile and could result in a modest reduction in interest expense.”

AMC has leverage, or debt to earnings before interest, taxes, depreciation and amortization, of 8 times, Moody’s said.


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Tuesday, 07 February 2012 11:19 AM
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