AMC completes $3.97 billion debt refinancing

AMC Entertainment Holdings announced on October 6, 2026, that it has completed the refinancing of $3.97 billion of its existing debt. The package includes a private offering of $2,000 million in first lien notes due 2031, a new $850 million first lien term loan facility, and a new $1,120 million second lien term loan facility provided by Deutsche Bank Special Situations Group.

The theater chain used the proceeds alongside cash on hand to fund a tender offer that settled on October 5, 2026. In that offer, bondholders tendered $355,515,000 in aggregate principal amount of AMC's 7.500% senior secured notes due 2029, representing approximately 98.8% of the $359,964,500 outstanding. The remaining notes are scheduled for redemption on or about February 15, 2027.

Proceeds will also fund the full redemption of $903.4 million in senior secured notes due 2029 issued by subsidiary Muvico, repay AMC's existing term loan facility, and repay the credit facility of Odeon Finco PLC. The notes and new loan facilities are guaranteed on a senior secured basis by direct and indirect subsidiaries, including Muvico and Odeon Cinemas Group Limited.

AMC Chairman and CEO Adam Aron noted that the transaction refinances roughly 97% of the company's debt and extends almost all maturities to October 2031 and October 2033. Aron stated that since 2020, the company has paid down nearly $2 billion in long-term debt and deferred pandemic-era lease liabilities, leaving a remaining debt load of approximately $4 billion.