AMC Networks gets tenders for $654 million of 7¾% notes due 2021

By Marisa Wong

Morgantown, W.Va., March 30 – AMC Networks Inc. said that holders had tendered $654 million of its 7¾% senior notes due 2021 as of 5 p.m. ET on March 29, the expiration of its previously announced cash tender offer.

The company accepted all of the tendered notes for purchase on Wednesday, according to a press release.

The company began the tender offer for any and all of its $700 million of outstanding 7¾% notes on March 23.

The purchase price is $1,058.57 for each $1,000 principal amount of notes plus accrued interest to but excluding the settlement date.

The company said it will also accept any additional 7¾% notes tendered through guaranteed delivery procedures.

The offer was subject to the satisfaction or waiver of a number of conditions, including AMC’s receipt of proceeds from a proposed debt financing sufficient to pay for the repurchase of notes tendered under the offer.

BofA Merrill Lynch (888 292-0070 or 980 388-3646) and Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) are the dealer managers.

Global Bondholder Services Corp. (212 430-3774, 866 924-2200 or contact@gbsc-usa.com) is the information agent.

AMC is a New York-based owner and operator of brands in cable television.

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