AMC Networks gets early tenders for $624.35 million of 4¾% notes

Chicago, April 5 – AMC Networks Inc. announced the early results on Friday evening for the any-and-all tender offer for the company’s $774,729,000 outstanding 4¾% senior notes due 2025 (Cusip: 00164VAE3) in a press release.

Holders tendered $624,346,000 of their notes by the 5 p.m. ET early deadline on April 5.

They will receive the full consideration, $1,000 cash per $1,000 note.

The offer continues through 5 p.m. ET on April 22.

Noteholders who tender after the early deadline will receive $970 per $1,000 note.

Holders are also receiving accrued interest to the relevant settlement date, April 9 for the early tenders and the business day after the expiration of the offer for final settlement.

The offer is conditioned on the company having raised net proceeds from its concurrent (upsized) offering of $875 million aggregate principal amount of senior secured notes due 2029. Settlement was planned for the new notes on April 9.

When the company launched the tender offer, it also issued a conditional notice of redemption to redeem any and all 2025 notes that remain outstanding after completion of the tender offer at a price of par plus accrued interest. The redemption date for the conditional call is April 24.

The lead dealer manager for the offer is BofA Securities, Inc. (888 292-0070 or 980 388-3646), and the co-dealer managers are J.P. Morgan Securities LLC and Citigroup Global Markets Inc.

The information agent for the offer is D.F. King & Co., Inc. (800 967-4617 or, for banks and brokers, 212 269-5550).

The entertainment company is based in New York.

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