By a News Reporter-Staff News Editor at Entertainment Newsweekly -- AMC Entertainment Inc. ("AMC" or the "Company") announced that it priced its previously announced private offering of $375.0 million aggregate principal amount (increased from $325.0 million) of senior subordinated notes due 2022 (the "Notes"). The Notes will be sold to investors at a price of 100.000% of the principal amount thereof and will bear interest at a rate equal to 5.875% per annum. The closing of the private offering is expected to occur on February 7, 2014, subject to customary closing conditions.
The Company intends to use the net proceeds from this private offering, together with a portion of the net proceeds from the initial public offering of the Company's parent, AMC Entertainment Holdings, Inc., to pay the consideration and any consent payments for the tender offer (the "Tender Offer") to purchase all of the Company's outstanding $600.0 million aggregate principal amount of 8.75% Senior Notes due 2019 (the "2019 Notes") and consent solicitation (the "Consent Solicitation") previously announced by the Company on January 15, 2014. Pursuant to the Tender Offer and Consent Solicitation, the initial payment of the total consideration of $1,068.75 per $1,000.00 in principal amount of the 2019 Notes validly tendered prior to the consent payment deadline of January 29, 2014, at 5:00 p.m.New York City time, and not validly withdrawn, is expected to be made on February 7, 2014. Holders whose 2019 Notes are purchased in the Tender Offer will also be paid accrued and unpaid interest from the most recent interest payment date on the 2019 Notes to, but not including, the payment date.
Keywords for this news article include: AMC Entertainment Inc..
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC