AMC Entertainment sets price talk for upsized $595 million and downsized £250 million notes offers

By Paul A. Harris

Portland, Ore., Oct. 27 – AMC Entertainment Holdings, Inc. shifted $60 million equivalent of proceeds to the dollar-denominated tranche from the sterling-denominated tranche of its proposed two-part offering of senior notes (B2/B+/B-) and set yield talk for both tranches, a syndicate source said on Thursday.

An upsized $595 million tranche of 10-year notes, non-callable for five years, is talked to yield in the 6% area, on top of initial guidance. The tranche size is increased from $535 million.

Citigroup Global Markets Inc. is the lead bookrunner. BofA Merrill Lynch, Barclays, Credit Suisse Securities (USA) LLC and HSBC Securities are the joint bookrunners.

A downsized £250 million tranche of eight-year notes, non-callable for three years, is talked to yield in the 6½% area. The tranche was downsized from £300 million.

Citigroup is the lead bookrunner. Barclays, BofA Merrill Lynch, Credit Suisse and HSBC are the joint bookrunners.

Books close Friday morning, and the Rule 144A and Regulation S with registration rights notes are set to price thereafter.

The Leawood, Kan.-based theater exhibitor plans to use the proceeds to help fund its acquisition of Odeon & UCI Cinemas Group and Carmike Cinemas, Inc. and to repay certain outstanding debt of Odeon & UCI.

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