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AMC Entertainment gets tenders for $10,000 more 8% notes by expiration
By Susanna Moon
Chicago, March 7 - AMC Entertainment Inc. said holders tendered $108,965,000, or about 36.3%, of its $300 million of outstanding 8% senior subordinated notes due 2014 by the end of the offer at 11:59 p.m. ET on March 6.
Of the total, $10,000 principal amount was tendered since the early deadline recorded at 5 p.m. ET on Feb. 21, according to a company press release.
In addition, the company plans to redeem $51,035,000 principal amount of notes at par "as soon as possible," so that $160 million of the notes will be retired through the tender offer and the redemption, the release said.
The company said on Feb. 22 the company would purchase $58,063,000 principal amount, or about 53.33%, of notes tendered by the early deadline that day.
The offer to purchase up to $160 million of the notes began on Feb. 7.
As previously noted, the total purchase price was $1,002.50, including an early tender premium of $30.00, per $1,000 principal amount of notes tendered by the early tender date.
Holders will also receive accrued interest up to but excluding the settlement date.
The company will fund the tender offer with some proceeds of new term loans it will receive under an amendment to its senior credit facilities.
The tender offer was conditioned on the amendment of the credit facilities. AMC said on Feb. 22 that it received lender consents to amend the facilities.
The dealer manager is Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106). The information agent is Global Bondholder Services Corp. (866 470-4500 or 212 430-3774).
AMC operates movie theaters and is based in Kansas City, Mo.
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