AMC extends $476.6 million term loans, gets $192.5 million revolver

By Sara Rosenberg

New York, Dec. 20 - AMC Entertainment Inc. extended $476.6 million of its term loans to Dec. 15, 2016 from January 2013 and completed a new $192.5 million five-year revolving credit facility, according to an 8-K recently filed with the Securities and Exchange Commission.

As was previously reported, pricing on the extended term loan is Libor plus 325 basis points, and the tranche 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 term loan debt is Libor plus 150 bps.

Meanwhile, initial pricing on the revolver is Libor plus 325 bps, and the spread can drop to Libor plus 300 bps at 1.5 times senior secured leverage. There is a 50 bps unused fee.

Citigroup and Barclays acted as the lead banks on the amend-and-extend transaction and the revolver, which were completed on Dec. 15.

Lenders were offered a 10 bps consent fee.

AMC Entertainment is a Kansas City, Mo.-based theatrical exhibition and entertainment company.

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