Rebecca Rubin Senior Film and Media Reporter AMC Theatres, the world’s largest cinema chain, reached an agreement to restructure a portion of its debt to extend maturity dates by at least three years, the company said Monday.
AMC Theatres is currently saddled with $4.5 billion in debt, including more than $2.8 billion of maturities that were due in 2026.
Because of the looming deadline, the company had been weighing debt-extension proposals. With the new refinancing transactions, AMC will be able to prolong the maturity of approximately $1.6 billion in debt due in 2026 to 2029 and 2030.
The cinema chain also plans to steady its balance sheet by arranging for the potential repurchase of up to $800 million of additional existing debt due in 2026, as well as issuing $414 million of new debt due in 2030.
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