AMC Entertainment credit facility amendment and extension passes

By Sara Rosenberg

New York, Dec. 15 - AMC Entertainment Inc.'s credit facility amendment and extension was approved by lenders, according to a market source.

Under the proposal, the company is extending its senior secured term loan to December 2016 from January 2013 at pricing of Libor plus 325 basis points. It is not yet clear as to how much of the loan was extended, the source said.

The extended term loan includes 101 soft call protection for one year.

During the negotiation process, pricing on the extended loan was increased from Libor plus 300 bps and call protection was added.

Pricing on the non-extended debt is Libor plus 150 bps.

Lenders were offered a 10 bps consent fee.

Citigroup and Barclays are the lead banks on the transaction.

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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