Latham & Watkins Advises on AMC Entertainment Holdings, Inc.’s Upsized US$950 Million Senior Secured Notes Offering

AMC Entertainment Holdings, Inc., the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world, has announced that it upsized and priced its private offering of US$950 million aggregate principal amount of 7.5% first lien senior secured notes due 2029, representing an increase of US$450 million aggregate principal amount from the previously announced proposed offering size. The Offering is expected to close on or around February 14, 2022, subject to customary closing conditions. The Notes will be guaranteed on a senior secured basis by each of the Company’s subsidiaries that guarantees indebtedness under the Company’s senior secured credit facilities and existing senior secured notes. The Company intends to use the net proceeds from the sale of the Notes, and cash on hand, to fund the full redemption of the Company’s US$500 million aggregate principal amount of 10.5% First Lien Senior Secured Notes due 2025, US$300 million aggregate principal amount of two series of 10.5% First Lien Senior Secured Notes due 2026 and US$73.5 million aggregate principal amount of 15%/17% Cash/PIK Toggle First Lien Secured Notes due 2026 and to pay related fees, costs, premiums, and expenses. The Redemptions will be conditioned upon, among other requirements, the consummation of the Offering, which shall have resulted in aggregate gross proceeds to the Company of at least US$950 million.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by New York partners Marc Jaffe and Erika Weinberg, with New York associates Will Clark, Sofia Sitterson, and Jie Lin Nai. Advice was also provided on banking matters by New York partners Eugene Mazzaro and Conray Tseng, with New York associate Sam Chaturvedi.