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AMC Entertainment launches term loan amendment and extension proposal
By Sara Rosenberg
New York, Dec. 2 - AMC Entertainment Inc. held a lender call on Thursday to launch an amendment and extension for its senior secured term loan that would push out the maturity to December 2016 from January 2013, according to a news release.
Pricing on the extended term loan is Libor plus 300 basis points, compared to current pricing of Libor plus 150 bps.
Lenders are being offered a 10 bps consent fee.
Citigroup and Barclays are the lead banks on the transaction.
Commitments/consents are due on Dec. 10.
In addition, the company is looking to replace its existing revolver with a new five-year revolver with higher interest rates than the existing deal.
AMC Entertainment is a Kansas City, Mo.-based theatrical exhibition and entertainment company.
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