AMC Entertainment starts roadshow for $400 million five-year notes

By Paul A. Harris

Portland, Ore., Oct. 12 – Odeon Finco plc, an indirect subsidiary of AMC Entertainment Holdings, Inc., began marketing a $400 million offering of five-year senior secured notes on Wednesday, according to market sources.

Initial guidance has the notes coming with a 12¾% coupon at OID 95 to 96.

The deal was set to officially kick off on a late Wednesday morning conference call with investors and is expected to price on Friday.

Citigroup Global Markets Inc. is the left bookrunner. Barclays is the joint bookrunner.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon. The notes feature a two-year 35% equity clawback at par plus the full coupon and have a 101% poison put.

Odeon Finco is a subsidiary of Odeon Cinemas Group Ltd., a private limited company incorporated under the laws of England and Wales. Odeon Cinemas Group is an indirect subsidiary of Leawood, Kan.-based movie exhibitor AMC Entertainment Holdings.

Proceeds from the notes offering will be used to pay off Odeon Cinemas Group's term loan facilities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.