AMC Entertainment gets tenders for $581.7 million 9¾% notes due 2020

By Angela McDaniels

Tacoma, Wash., June 3 – AMC Entertainment Inc. received tenders for $581.7 million, or 97%, of its $600 million of 9¾% senior subordinated notes due 2020, according to a company news release.

A tender offer for the notes began on May 26 and ended at 8 a.m. ET on June 2.

The purchase price is $1,093 per $1,000 principal amount of notes.

Holders also will receive accrued interest up to but excluding the payment date, which is expected to be June 5.

The $581.7 million of tendered notes includes $399,000 of notes that remain subject to guaranteed delivery procedures.

The tender offer is conditioned on the company obtaining enough proceeds from an offering of debt securities to fund the offer.

The company priced a $600 million issue of 10-year senior subordinated notes (B3/B) at par to yield 5¾% on June 2. It is expected to settle June 5.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) is the dealer manager. Global Bondholder Services Corp. (866 470-3700 or 212 430-3774) is the information agent.

AMC is a movie exhibitor based in Leawood, Kan.

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