AMC Entertainment looking to replace credit facility

New York, Aug. 1 - AMC Entertainment Inc. said it is soliciting proposals to replace its credit facility.

The Kansas City, Mo. movie theater operator said the new facility will likely be smaller than the existing loan. AMC added in a filing with the Securities and Exchange Commission that it is "our objective is to maintain the current covenant structure."

Currently AMC has a $350 million credit facility due 2005 although covenants limit its ability to incur debt, including under the facility.

Commitments reduce by $25 million on Sept. 30 and $50 million on Dec. 31.

At July 3, AMC said it had no outstanding borrowings and availability of $337 million.

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