Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for AMC Entertainment Inc. > News item |
AMC Entertainment adds pricing changes to change-of-control amendment
By Sara Rosenberg
New York, June 26 - AMC Entertainment Holdings Inc. revised its change-of-control amendment request, adding a 50 basis point increase in pricing to its 2018 term loan tranche and a 1% Libor floor to its 2016 term loan tranche, according to a market source.
With the change in spread, the 2018 loan will be priced at Libor plus 375 bps, the source said.
The main purpose of the amendment to the senior secured credit facility is to allow for the change of control that will occur as a result of the company's purchase by Dalian Wanda Group Co. Ltd. for about $2.6 billion.
The amendment would also change the company's fiscal year-end to the calendar year-end.
As before, lenders are being offered a 25 bps amendment fee.
Consents were due at 5 p.m. ET on Tuesday.
Citigroup Global Markets Inc. is the lead bank on the deal.
Closing on the buyout is expected by September, subject to customary conditions and the receipt of U.S. and China regulatory approvals.
With the transaction, Dalian Wanda intends to invest up to an additional $500 million in AMC over time to fund strategic and operating initiatives.
AMC is a Kansas City, Mo.-based movie exhibitor.
© 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.