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Confidential discussions are underway between AMC Leisure Holdings (NYSE:AMC) and a few of its lenders to cut back the corporate’s debt load and lengthen near-term maturities, Bloomberg Information reported Saturday, citing individuals acquainted with the matter.
The negotiations are in progress, and a last determination hasn’t but been made, the individuals stated. AMC (AMC) refused to answer Bloomberg’s requests for feedback, as did worldwide regulation agency Gibson Dunn & Crutcher, which represents first-lien lenders.
The discussions come at a time when the world’s largest movie show chain is grappling with billions of {dollars} of debt. Its long-term borrowings stand at roughly $4.5B, and as of March 31, the corporate had greater than $2.8B in maturities due in 2026, which included a $1.9B time period mortgage and ~$1B in second-lien notes.
In Might, AMC (AMC) capitalized on a meme-stock to boost $250M in new fairness capital and enhance its gearing stage.