AMC Entertainment launches $300 million term B-3 at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 7 - AMC Entertainment Inc. held a call at 11 a.m. ET on Tuesday to launch a proposed $300 million senior secured term loan B-3 due 2018 that is talked at Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The loan has 101 soft call protection for one year, the source said.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and J.P. Morgan Securities LLC are the lead banks on the deal.

Commitments are due on Feb. 15.

Amortization is 1% per annum, with the remainder due at maturity.

Proceeds from the new term loan and cash on hand will be used to fund a tender offer for up to $160 million of the company's $300 million 8% senior subordinated notes due 2014 and to repay term loans due in 2013.

The notes tender offer expires on March 6 and is conditioned on completion of the new loan.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.