Jill Goldsmith Co-Business EditorCash-strapped AMC Entertainment saw its stock surge in premarket trade as the nation’s largest exhibitor is said to be closing in on a debt restructuring that will provide a cash cushion as its theaters remain shuttered.The company has been trying for weeks to get bond holders to agree to swap debt at a discount but only a relatively small percentage had agreed as of June 30, the company said in a SEC filing late Tuesday that extended the deadline.
However, according to the Wall Street Journal, it’s nearing a deal for bondholders to provide a $200 million senior loan and exchange subordinated debt for new senior debt.
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