AMC Entertainment: completes $2,000,000,000 8.875% first lien notes offering

What happened

• The company reported it completed a series of refinancing transactions on Oct 5, 2026, including repayment, redemption and discharge of certain existing indebtedness.
• On the Closing Date the company issued $2,000,000,000 aggregate principal amount of 8.875% First Lien Notes due Oct 15, 2031 and entered into new term loan facilities, borrowing $850,000,000 of new first lien term loans and $1,120,000,000 of new second lien term loans.

Key details

• 8.875% First Lien Notes due Oct 15, 2031: interest 8.875% per annum, payable semi-annually on Apr 15 and Oct 15 beginning Apr 15, 2027; guaranteed by existing and future wholly-owned subsidiaries; secured first-priority, pari passu with the New 1L Term Loan Facility.
• New 1L Term Loans: $850,000,000 initial principal, maturity Oct 5, 2031, original issue discount 1.50%, interest at Alternate Base Rate or Adjusted Term SOFR plus an applicable margin, quarterly amortization equal to 0.25% of original principal beginning Mar 31, 2027.
• New 2L Term Loans: $1,120,000,000 initial principal, maturity Oct 5, 2033, fixed interest 11.25%, original issue discount 1.00%, secured on a second-priority basis relative to the Notes and New 1L Term Loans.
• The company repaid in full the outstanding term loans under the Existing Term Loan Facility and under the Odeon Term Loan Facility and terminated the Odeon Term Loan Facility on the Closing Date; related intercreditor agreements were entered into to govern collateral priority.

Why it may matter

• The filing reports Item 1.01 (entry into material definitive agreements) describing the Notes and the New 1L and New 2L term loan facilities, and Item 1.02 (termination of a material definitive agreement) describing repayment and termination of prior term loan facilities. It also furnishes a press release under Item 7.01 and discloses related events under Item 8.01 regarding settlement, redemption and satisfaction and discharge of prior indebtedness. This filing does not show why the company acted.