AMC Entertainment Inc. Announces Preliminary Results of Tender Offer and Consent Solicitation for Its 8.75% Senior Notes Due 2019 and Receives Required Consents in Connection with Consent Solicitation
LEAWOOD, Kan.--(BUSINESS WIRE)-- Pursuant to its previously announced tender offer (the “Tender Offer”) and consent solicitation (the “Consent Solicitation”), AMC Entertainment Inc. (“AMC” or the “Company”) received tenders and consents from the holders of approximately $463.7 million, or approximately 77.3%, of its outstanding 8.75% Senior Notes due 2019 (the “Notes”) by the expiration of the consent payment deadline, January 29, 2014, at 5:00 p.m. New York City time (the “Consent Date”). The consents received exceeded the number needed to approve the proposed amendments to the indenture under which the Notes were issued.
The obligation of the Company to purchase Notes pursuant to the Tender Offer and pay for consents pursuant to the Consent Solicitation remains subject to certain conditions, including the receipt of net proceeds from an offering of debt securities in an amount sufficient, together with other available cash, to fund the purchase of any and all of the Notes validly tendered pursuant to the Tender Offer, to pay for consents pursuant to the Consent Solicitation, to pay all accrued interest on the Notes purchased and to pay all fees and expenses of the Tender Offer. So long as the Tender Offer and Consent Solicitation remain subject to the conditions, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes and may even terminate the Tender Offer or Consent Solicitation. Full details of the terms and conditions of the Tender Offer and Consent Solicitation are included in the Company’s offer to purchase and consent solicitation, statement dated January 15, 2014, and related Letter of Transmittal and Consent.
The deadline to withdraw any tendered Notes pursuant to the Tender Offer and to revoke any related consents pursuant to the Consent Solicitation (the “Withdrawal Deadline”) was 5:00 p.m., New York City time, on January 29, 2014. The Withdrawal Deadline has not been extended.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Requests for documents relating to the Tender Offer may be directed to Global Bondholder Services Corp., the Information Agent, at (866)-807-2200 or (212) 430-3774. Citigroup Global Markets Inc. is the Dealer Manager for the Tender Offer and Solicitation Agent for the Consent Solicitation. Questions regarding the Tender Offer and Consent Solicitation may be directed to Citigroup Global Markets Inc. at (800) 558-3745 (U.S. toll-free) and (212) 723-6106 (New York).
About AMC Entertainment Inc.
AMC Theatres® delivers distinctive and affordable movie-going experiences at 343 theatres and 4,950 screens primarily in the United States. AMC has propelled a history of industry innovation and continues today by delivering comfort and convenience, enhanced food and beverage, guest engagement and loyalty, premium sight and sound and targeted programming to audiences in its theatres across the United States.
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast”, “estimate”, “project”, “intend”, “expect”, “should”, “believe” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements include any statements regarding the Company’s strategic and operational plans. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
Source: AMC Entertainment Inc.
Released January 30, 2014