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Get filing alertsAMC completes $3.97B refinancing, extends debt maturities to 2031 and 2033
Filed October 6, 2026 · Period ending October 5, 2026 · ~1 min read
Key Changes
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Issued $2.0B of 8.875% first lien notes due 2031 and borrowed $850M under a new first lien term loan and $1.12B under a new second lien term loan.
Item 1.01 verify on EDGAR → -
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Repaid and terminated the Existing Term Loan Facility and Odeon Term Loan Facility using proceeds from the new notes and term loans.
Item 1.02 verify on EDGAR → -
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Redeemed all $903.4M of Muvico's Senior Secured Notes due 2029 at par plus a $144.3M make-whole premium, satisfying and discharging the indenture.
Item 8.01 verify on EDGAR → -
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Settled tender offer for 7.500% Senior Secured Notes due 2029, accepting $355.5M (98.8% of outstanding), and deposited government securities to redeem the remainder.
Item 7.01 verify on EDGAR → -
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CEO Adam Aron says AMC has paid down nearly $2B of long-term debt and lease deferrals since 2020, leaving about $4B maturing in 2031 and 2033.
Exhibit 99.1 view on EDGAR →
Summary
AMC Entertainment completed a comprehensive refinancing of $3.97 billion of existing debt, issuing $2.0 billion of 8.875% first lien notes due 2031, borrowing $850 million under a new first lien term loan, and borrowing $1.12 billion under a new second lien term loan from Deutsche Bank Special Situations Group. The proceeds were used to repay and terminate the Existing Term Loan Facility and the Odeon Term Loan Facility, redeem all $903.4 million of Muvico's Senior Secured Notes due 2029 at par plus a $144.3 million make-whole premium, and settle a tender offer for its 7.500% Senior Secured Notes due 2029, with 98.8% of those notes tendered. The remaining untendered notes will be redeemed on or about February 15, 2027.
For retail holders, this transaction extends AMC's debt maturities to 2031 and 2033, reducing near-term refinancing risk. CEO Adam Aron highlighted that the company has paid down nearly $2 billion of long-term debt and COVID-related lease deferrals since 2020, leaving a remaining debt load of approximately $4 billion now maturing in 2031 and 2033. The new debt carries higher interest rates than the retired facilities, but the extended runway provides more time for the business to generate cash flow and potentially reduce leverage further.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
Added in current filing · view on EDGAR →
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth in Item 1.01 of this Current Report on Form 8-K under the headings “New First Lien Notes Indenture” and “New Term Loan Faciliti
The company also filed this under Item 2.03, which means it is reporting the arrangement as a direct financial obligation. The Item 2.03 text refers back to the Item 1.01 entry for the terms rather than restating them.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
the Company borrowed $850.0 million of new first lien term loans
AMC borrowed $850 million under a new first lien term loan facility maturing October 5, 2031. The loans were issued with a 1.50% original issue discount and amortize at 0.25% of original principal quarterly.
Added in current filing · verify on EDGAR →
the Company borrowed $1,120.0 million of new second lien term loans
AMC borrowed $1.12 billion under a new second lien term loan facility maturing October 5, 2033. The loans carry a fixed 11.25% interest rate and were issued with a 1.00% original issue discount.
Added in current filing · verify on EDGAR →
including the repayment, redemption and discharge of certain existing indebtedness described under Items 1.02 and 8.01 of this Current Report on Form 8-K
The new financing was used to repay, redeem, and discharge certain existing indebtedness. Details of the retired debt are described in Items 1.02 and 8.01 of the same 8-K.
Added in current filing · verify on EDGAR →
The New 1L Term Loans are secured on a first-priority basis, on a pari passu basis with the Notes, and the New 2L Term Loans are secured on a second-priority basis with respect to the Notes and the New 1L Term Loans
The new debt is secured by substantially all tangible and intangible assets of AMC and its guarantors. The first lien notes and first lien term loans share first-priority collateral, while the second lien term loans are junior on the same collateral.
Event · Item 1.02 — Termination of a Material Definitive Agreement
Item 1.02 — Termination of a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On the Closing Date, the Company repaid in full the outstanding term loans under that certain credit agreement, dated as of July 22, 2024, by and among the Company and Muvico, as borrowers, the lenders party thereto and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent (as amended, the “Existing Term Loan Facility”), with a portion of the net proceeds from the Notes offering and the New Term Loan Facilities.
AMC fully repaid its Existing Term Loan Facility on the Closing Date using proceeds from a Notes offering and new term loan facilities. This removes the associated debt obligations and any collateral or covenants tied to that facility.
Added in current filing · verify on EDGAR →
On the Closing Date, Odeon Finco PLC (“Odeon Finco”), a wholly-owned indirect subsidiary of the Company, repaid in full the outstanding term loans under that certain credit agreement, dated as of April 17, 2026, by and among Odeon Finco, as borrower, Odeon Cinemas Group Limited, the lenders party thereto and U.S. Bank Trust Company, National Association, as administrative agent and security agent (the “Odeon Term Loan Facility”), with a portion of the net proceeds from the Notes offering and the New Term Loan Facilities, and the Odeon Term Loan Facility was terminated.
AMC's indirect subsidiary Odeon Finco repaid its term loan facility in full and the facility was terminated. This eliminates that subsidiary's debt and releases any associated security interests.
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Settlement of Tender Offer for AMC Secured Notes; Satisfaction and Discharge of the AMC Secured Notes Indenture
The filing discloses that AMC settled a tender offer for its secured notes and satisfied and discharged the related indenture. This means the company repurchased or retired those notes and the governing agreement is no longer in effect.
Added in current filing · verify on EDGAR →
Redemption of Muvico 1.5L Notes; Satisfaction and Discharge of the Muvico 1.5L Notes Indenture
The filing also discloses that AMC redeemed its Muvico 1.5L notes and satisfied and discharged that indenture. This indicates the company paid off those notes and the related agreement is terminated.
Event · Item 7.01 — Regulation FD Disclosure
AMC completed tender offer and redemptions, retiring secured notes and discharging indentures.
Added in current filing · verify on EDGAR →
The Company also satisfied and discharged the indenture governing the AMC Secured Notes (the “AMC Secured Notes Indenture”) by irrevocably depositing with CSC Delaware Trust Company (as successor to U.S. Bank Trust Company, National Association), the trustee under the AMC Secured Notes Indenture, non-callable U.S. government securities sufficient to pay the redemption price of the remaining aggregate principal amount of AMC Secured Notes not tendered in the Tender Offer.
AMC deposited U.S. government securities with the trustee to cover redemption of the remaining AMC Secured Notes not tendered, effectively removing the indenture's obligations. The remaining notes will be redeemed on or about February 15, 2027 at 100.000% of principal plus accrued interest.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
The net proceeds from the Offering, together with the proceeds from the New Term Loan Facilities and cash on hand, have been and will be used to (i) fund the previously announced tender offer (the “Tender Offer”) of the Company’s outstanding 7.500% Senior Secured Notes due 2029 (the “AMC Secured Notes”) which settled concurrently with the Offering, (ii) fund the redemption (the “Redemption”) on or about February 15, 2027 of any AMC Secured Notes that were not tendered or accepted for purchase in the Tender Offer, (iii) fund the previously announced redemption in full of Muvico’s $903.4 million aggregate principal amount of Senior Secured Notes due 2029, (iv) repay in full the Company’s existing term loan facility, (v) repay in full the existing term loan facility of Odeon Finco PLC, a wholly-owned direct subsidiary of OCGL and an indirect subsidiary of AMC, and (vi) pay related fees, costs, premiums and expenses in connection with such transactions.
Proceeds will fund the tender offer, redeem remaining 2029 notes, redeem Muvico's $903.4 million notes, repay existing term loans, and cover fees. This consolidates and extends AMC's debt stack. Note: these figures were previously disclosed in the company's Sep 24, 2026 8-K.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 7, 2026 · How we verify