AMC Entertainment launches $881 million term loan B to investors

By Sara Rosenberg

New York, Dec. 2 – AMC Entertainment Inc. held a lender call at 11 a.m. ET on Wednesday to launch an $881 million seven-year senior secured term loan B, according to a market source.

Citigroup Global Markets Inc., Bank of America Merrill Lynch, Barclays, HSBC Securities (USA) Inc. and Credit Suisse Securities (USA) LLC are the joint lead arrangers on the deal.

The term loan is talked at Libor plus 325 basis points with a 0.75% Libor floor and an original issue discount of 99 to 99.5, the source said.

Included in the loan is 101 soft call protection for six months and amortization of 1% per annum.

Commitments are due at 5 p.m. ET on Dec. 9, the source added.

Proceeds will be used to refinance an existing term loan and for general corporate purposes.

Closing is targeted for Dec. 11.

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

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