AMC Entertainment Holdings, Inc. Announces $1.4 Billion Private Placement of USD and GBP Senior Subordinated Notes and Term Loans
New Financing in Connection with Anticipated Completion of the Acquisition of Odeon & UCI Cinemas Holdings Limited and Carmike Cinemas, Inc.
Leawood, Kansas (October 20, 2016) – AMC Entertainment Holdings, Inc. (“AMC” or “the Company”) today announced that it intends to offer, subject to market and other conditions, approximately $900 million aggregate principal amount of dollar-denominated Senior Subordinated Notes due 2026 and sterling-denominated Senior Subordinated Notes (together, the “Notes”) due 2024 through a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Company also intends to offer approximately $500 million principal amount dollar-denominated “B” term loans due 2023 via a new “B” incremental term loan tranche under its existing credit agreement (the “New Term Loans”).
The net proceeds from the Notes offering, together with the borrowings under the New Term Loans, cash on hand and other sources are intended to be used to fund the acquisitions of Odeon & UCI Cinemas Holdings Limited (“Odeon & UCI”) and Carmike Cinemas, Inc. (“Carmike”) (NASDAQ: CKEC), repay certain outstanding debt of Odeon & UCI and fund related transaction fees and expenses.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes or any other securities, nor will there be any sale of the Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
The Notes and related subsidiary guarantees will be offered and sold in reliance on an exemption from the registration requirements provided by Rule 144A under the Securities Act to qualified institutional buyers and to investors who are non-US persons outside the United States pursuant to Regulation S under the Securities Act. None of the Notes and such guarantees have been registered under the Securities Act or the securities laws of any state or other jurisdiction, and the Notes and such guarantees may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and the securities laws of any applicable state or other jurisdiction.
About AMC Entertainment Holdings, Inc.
AMC (NYSE:AMC) is the guest experience leader with 386 locations and 5,334 screens located primarily in the United States. AMC has propelled innovation in the theatrical exhibition industry and continues today by delivering more comfort and convenience, enhanced food & beverage, greater engagement and loyalty, premium sight & sound, and targeted programming. AMC operates the most productive theatres in the country’s top markets, including No. 1 market share in the top three markets (NY, LA, Chicago).