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AMC Entertainment Holdings repays $1.34 billion of term loans
By Angela McDaniels
Tacoma, Wash., April 25 – AMC Entertainment Holdings, Inc. repaid its $1.34 billion of existing term loans using the proceeds of its recent $2 billion senior secured term loan B due 2026, according to an 8-K filing with the Securities and Exchange Commission.
As reported March 18, the company set pricing on the covenant-lite term loan B at Libor plus 300 basis points with an original issue discount of 99.5.
The company also extended its $225 million revolving credit facility to 2024.
Closing occurred Monday.
The term loan proceeds were also used to redeem the company’s $375 million 5 7/8% senior subordinated notes due 2022 and Carmike Cinemas, LLC’s $230 million 6% senior secured notes due 2023.
AMC is a movie exhibition company based in Leawood, Kan.
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