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AMC Entertainment begins tender for $600 million 8¾% notes due 2019
By Susanna Moon
Chicago, Jan. 16 - AMC Entertainment Inc. said it began a tender offer for its $600 million principal amount of 8¾% senior notes due 2019.
The total purchase price will be $1,068.75 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Jan. 29, the consent date.
The total amount includes a consent payment of $30.00 per $1,000 of notes.
Those who tender after the consent deadline will receive the total payment less the consent payment.
Holders also will receive accrued interest to but excluding the settlement date.
The tender offer will end at 11:59 p.m. ET on Feb. 12.
Tendered notes may be withdrawn by the early tender deadline.
The company also is soliciting the consents to amend the notes to eliminate substantially all of the restrictive covenants and events of default provisions, according to a press release.
The offer is conditioned on the issue of debt with enough proceeds to fund the offer.
Global Bondholder Services Corp. (866 807-2200 or 212 430-3774) is the information agent. Citigroup Global Markets Inc. (800 558-3745 and 212 723-6106) is the dealer manager.
AMC is a Leawood, Kan.-based movie exhibitor.
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