AMC Entertainment Holdings, Inc. (NYSE: AMC) announced the completion of a comprehensive refinancing totaling $3.97 billion on October 5, 2026. The transaction includes the issuance of new debt instruments and the repayment of existing obligations.
The company issued $2,000.0 million in aggregate principal amount of 8.875% First Lien Notes due 2031. These notes were sold in a private offering to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The notes bear interest at 8.875% per annum, payable semi-annually on April 15 and October 15, beginning April 15, 2027. They are secured on a first-priority basis by substantially all tangible and intangible assets of the company and its guarantors.
In addition to the notes, AMC entered into a new $850.0 million first lien term loan facility with Wells Fargo Bank, National Association as administrative agent. The company also secured a $1,120.0 million second lien term loan facility provided by Deutsche Bank Special Situations Group, with U.S. Bank Trust Company, National Association as administrative agent.
Proceeds from the new debt offerings, combined with cash on hand, were used to fund a tender offer for the company’s outstanding 7.500% Senior Secured Notes due 2029. Approximately $355.5 million, or 98.8% of the $359.9 million principal amount outstanding, was validly tendered and accepted for purchase. The tender offer settled on October 5, 2026.
AMC stated that the refinancing extends debt maturities to 2031 and 2033, simplifies the capital structure, and reduces the cost of capital. The company noted that it has paid down nearly $2 billion of long-term debt since 2020.
