AMC Raises Money to Pay Off Old Debt and Refine Its Financing

AMC Entertainment, the world’s biggest movie theater chain, has begun a new private debt sale. A wholly‑owned unit called Muvico is offering $1. 73 billion in first‑lien notes that mature in 2031. These notes will be backed by AMC and its subsidiaries, which also back a new $750 million loan that the company plans to sign at the same time. The cash from this new debt, plus the proceeds of the new loan and AMC’s existing liquid assets, will be used for three main purposes. First, the company will fully redeem $400 million of older 12. 75% senior secured notes that were issued by Odeon Finco PLC, a subsidiary of the larger Odeon Cinemas Group. Second, AMC will replace its current term loan with a fresh facility. Finally, the company will cover all fees and costs related to these transactions. Odeon has already sent a conditional notice to holders of the old notes, saying it will redeem them only if AMC and its affiliates raise at least $2. 48 billion in new debt before the redemption date. The company is free to waive this requirement whenever it chooses, and there is no guarantee that the needed funding will be secured on time.The new notes are sold only to qualified institutional buyers under Rule 144A and, outside the U. S. , to non‑U. S. investors under Regulation S. They are not registered securities and cannot be sold in the United States unless an exemption applies or a registration statement is filed. AMC’s announcement comes as it seeks to streamline its debt structure and reduce interest costs while maintaining flexibility for future growth. The company also highlighted that it will continue to innovate in the theater experience, offering new seating, food options and digital engagement tools. The press release clarifies that it is not an offer to buy or sell securities, and it does not replace the official notice of redemption that was sent to note holders. The company also noted that its forward‑looking statements are based on current information and could change as circumstances evolve.