AMC Entertainment Bought Back ~$72.5M Debt at 31% Discount

AMC Entertainment says it has repurchased ~$72.5m of 10.0% second lien subordinated secured notes due 2026 during 2Q for ~$50m.

• Price represents a 31% discount to the face value of the debt
• Annual interest cost reduced by $7.25M as a result
• “This action is one more step along our recovery glidepath. We will continue to seek creative and meaningful strategies to further strengthen our balance sheet and create value for our shareholders in the future, ” CEO Adam Aron said

NOTE

• AMC Entertainment Holdings Inc. rose 0.9% in premarket trading to $16.51 as of 7:51 a.m. New York time