AMC Entertainment Nears Debt Deal That Would Ensure Solvency Into Early Next Year
Reading now: 746
deadline.comJill Goldsmith Co-Business EditorThe nation’s largest theater chain AMC Entertainment is finalizing a deal with bondholders that would slash debt by up to $600 million, bring in $200 million in fresh cash and give it a lifeline into 2021, Deadline has learned.A $500 million bond sale in April as the coronavirus kicked the nation’s economy into a ditch was meant to fund the exhibitor’s seriously-cash strapped operation through November.
The Kansas-based company led by CEO Adam Aron is now approaching four months of zero revenue since shuttering theaters in March.
It plans to open them on July 30 even as COVID-19 cases spike in states across the country and the summer release schedule was already shuffled several times.
Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
