AMC Entertainment $550 million 10-year notes price talk 7¾% area, to price Thursday

By Paul A. Harris

St. Louis, Feb. 18 - Price talk is in the area of 7¾% on AMC Entertainment Inc.'s quick-to-market offering of $550 million of 10-year senior subordinated notes (existing ratings Caa1/CCC+), a syndicate source said.

The deal is expected to price on Thursday.

Citigroup is the bookrunner for the Rule 144A offering. Banc of America Securities is joint lead manager. Scotia Capital is co-manager.

The notes will come with five years of call protection.

Proceeds will be used to redeem the company's 9½% senior subordinated notes due 2009 and its 9½% senior subordinated notes due 2011.

The company is a movie theater owner-operator based in Kansas City, Mo.

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