AMC Entertainment to redeem 9½% notes with new-deal proceeds

New York, Feb. 18 - AMC Entertainment Inc. said it plans to redeem all its outstanding 9½% senior subordinated notes due 2009 and its 9½% senior subordinated notes due 2011 using a portion of the anticipated proceeds of its offering of new notes. Redemption of the existing notes would take place on or about March 26.

AMC, a Kansas City, Mo.-based motion picture theater operator, said it was offering to sell $550 million of new senior subordinated notes due 2014 in a Rule 144A private placement offering. Net proceeds from the sale of the new notes are expected to be about $535 million after deducting underwriting discounts and commissions and estimated offering expenses.

Besides the redemption of the two series of 9½% notes, AMC intends to apply the remainder of the net proceeds from the offering for general corporate purposes.

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