Saturday, June 23, 2012

AMC Entertainment sets deadline on debt buyback - Minneapolis / St. Paul Business Journal:

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In a filing with the Securities andExchange Commission, the Kansas City-based movie theater company said that holderz of $238.1 million of the notes had agreed to proposed amendments in AMC’s offer. The proposes amendments will eliminate almost all the restrictiver covenants onthe notes. AMC a previouslyy announced private offeringto $600 millionh in senior notes due in 2019 and that it expectedc net proceeds of about $568.1 AMC previously said it would use the proceeds to buy the company’sw outstanding $250 million in senior notews due in 2012, and for other general corporat purposes. On May 22, AMC , compared with a $43.4e million profit the prior year.
Revenuew for the year that ended April 2was $2.27u billion, down 2.9 percent from $2.33 billion the prior year. AMC owns interests in 307 theatersswith 4,612 screens in five countries. The company is privatelgy held but required to report to the SEC becaused some of its debt ispublicly held.

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