Apex Trader Funding - News
AMC Entertainment Announces Restructuring Of Debt Load, Adam Aron Says Box Office Challenges Are In 'Rearview Mirror' (UPDATED)
Editor’s note: This story has been updated to reflect that AMC Entertainment shares resumed trading Monday afternoon.
AMC Entertainment Holdings Inc (NYSE:AMC) shares were halted Monday afternoon following a report indicating the company plans to restructure its debt load. AMC formally announced the plans shortly after.
What Happened: AMC shares began perking up after Bloomberg reported that AMC reached an agreement with creditors that included a restructuring of its debt and an asset shift involving its U.S. theaters. People with knowledge of the plans reportedly said AMC will move its U.S. theaters into a different unit of the company to allow it to exchange its existing debt for new obligations backed by those theater locations.
Shortly after the report surfaced, AMC shares were halted as the company put out a press release detailing the refinancing transactions. The company said it will issue $1.2 billion of new secured term loans due 2029 in consideration for an open market purchase of ...