AMC Entertainment gets early tenders for 77.3% of 8¾% notes due 2019

By Susanna Moon

Chicago, Jan. 30 - AMC Entertainment Inc. said investors had tendered $463.7 million, or about 77.3%, of its $600 million principal amount of 8¾% senior notes due 2019 by 5 p.m. ET on Jan. 29, the consent date.

The company received consents for more than the number needed to approve the proposed amendments to the note indenture, according to a press release.

As previously announced, the company is soliciting the consents to amend the notes to eliminate substantially all of the restrictive covenants and events of default provisions.

The tender offer will continue until 11:59 p.m. ET on Feb. 12. The offer began Jan. 16.

Tendered notes may no longer be withdrawn, as of the early tender deadline.

The total purchase price will be $1,068.75 for each $1,000 principal amount of notes tendered by the consent deadline.

The total amount includes a consent payment of $30.00 per $1,000 of notes.

Those who tender after the consent deadline will receive the total payment less the consent payment.

Holders also will receive accrued interest to but excluding the settlement date.

The offer is conditioned on the issue of debt with enough proceeds to fund the offer.

Global Bondholder Services Corp. (866 807-2200 or 212 430-3774) is the information agent. Citigroup Global Markets Inc. (800 558-3745 and 212 723-6106) is the dealer manager.

AMC is a Leawood, Kan.-based movie exhibitor.

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