AMC Cinema Lenders Propose Debt Extension to Movie Chain
AMC Entertainment explores debt extension options with lenders for $2.8 billion due in 2026, aiming to strengthen financial stability amid ongoing recovery challenges.
Lenders to AMC Entertainment Holdings Inc. (NYSE:AMC) have suggested extending the repayment deadline for billions in debt due in 2026, according to a Bloomberg report.
This proposal is part of ongoing discussions aimed at strengthening AMC's financial position as it navigates challenges in recovering its ticket sales to pre-pandemic levels. As of December 31, AMC, the world's largest cinema chain, reported approximately $4.5 billion in long-term debt, with over $2.8 billion due in 2026.
In efforts to improve its balance sheet, AMC spoke with advisors and first-lien lenders this March. Additionally, on April 19, AMC disclosed in a regulatory filing that it had secured a new letter of credit, replacing a $225 million revolving credit facility due to expire on April 22, and had cleared the outstanding balance.
