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AMC $1.37 billion term loan repricings talked at Libor plus 225 bps
By Paul A. Harris
Portland, Ore., April 11 – AMC Entertainment Holdings Inc. set price talk on $1.37 billion of term loan repricings (Ba1/BB) in two tranches, according to a market source.
An $869.6 million senior secured term loan B due Dec. 15, 2022 and a $500 million senior secured term loan B due Dec. 15, 2023 are both talked at Libor plus 225 basis points, with a 0% Libor floor, at par.
Both tranches feature six-month soft calls at 101 and 1% annual amortization.
Commitments from existing lenders are due at 5 p.m. ET on April 18. Commitments from new lenders are due at 5 p.m. ET on April 19.
The deal is expected to close on May 9.
Citigroup Global Markets is the sole arranger.
The borrower is a Leawood, Kan., movie exhibitor.
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