> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# AMC Closes $3.97 Billion Refinancing: $2 Billion Of 8.875% Notes And An 11.25% Second Lien Loan
- URL: https://www.bullished.co/amc-closes-3-97-billion-refinancing-2-billion-of-8-875-notes-and-an-11-25-second-lien-loan-a1ae8107/
- Published: 2026-10-06T10:21:07.000Z
- Updated: 2026-10-06T10:21:07.000Z
- Description: The theater chain's 8-K shows new debt due in 2031 and 2033, with a $144.3 million make-whole premium paid to retire Muvico notes.
- Author: Matteo Parrino
- Tags: SEC Filings, AMC, Industry: Communication Services

AMC Entertainment closed a refinancing on Monday that includes [$2,000.0 million of 8.875% first lien notes](https://www.sec.gov/Archives/edgar/data/0001411579/000110465926113853/tm2627016d1%5F8k.htm?ref=bullished.co) due October 15, 2031, according to an 8-K filed Tuesday. The company put the full package at $3.97 billion and used it to replace debt that included its 2029 notes.

## What the 8-K says

Besides the notes, AMC borrowed [$850.0 million](https://www.businesswire.com/news/home/20261005927504/en/AMC-Entertainment-Holdings-Inc.-Announces-Results-of-Tender-Offer-the-Closing-of-First-Lien-Notes-Offering-and-New-Term-Loan-Facilities-Totaling-a-$3.97-Billion-Refinancing-of-Existing-Debt?ref=bullished.co) in first lien term loans maturing October 5, 2031\. Those loans were issued at a 1.50% discount.

It also took [$1,120.0 million](https://www.businesswire.com/news/home/20261005927504/en/AMC-Entertainment-Holdings-Inc.-Announces-Results-of-Tender-Offer-the-Closing-of-First-Lien-Notes-Offering-and-New-Term-Loan-Facilities-Totaling-a-$3.97-Billion-Refinancing-of-Existing-Debt?ref=bullished.co) in second lien term loans due October 5, 2033, at a fixed 11.25% and a 1.00% issue discount. Deutsche Bank Special Situations Group is the lender on that facility, per the filing. Second lien debt is repaid only after first lien claims are satisfied from the collateral.

The notes pay interest twice a year, on April 15 and October 15, starting April 15, 2027\. They are secured on a first-priority basis, equal with the first lien term loan, by substantially all of the assets of AMC and its guarantors. The term loan's quarterly principal payments, equal to 0.25% of the original amount, start March 31, 2027.

The notes were sold privately, to qualified institutional buyers and to non-U.S. persons, and are not registered under the Securities Act.

## Where the money went

The proceeds retired Muvico's $903.4 million of senior secured notes at par, plus a $144.3 million make-whole premium. They also repaid two term loan facilities. Muvico is a wholly owned AMC subsidiary.

The money also funded a tender offer in which $355,515,000 of [7.500% notes](https://finance.yahoo.com/markets/stocks/articles/amc-4-billion-refinancing-governance-000955433.html?ref=bullished.co) due 2029 were accepted. The press release puts the tendered share of the outstanding 7.500% secured notes due 2029 at 98.8%.

Notes not tendered will be redeemed on or about February 15, 2027, at 100.000% of principal plus accrued interest, the filing says.

## What it changes for holders

The nearest maturities now sit in 2031, with the second lien out to 2033\. The price of that is an 11.25% fixed rate on the junior loan, plus the make-whole premium paid on the Muvico notes.

The covenants limit additional debt, liens, dividends, investments and asset sales, subject to exceptions. Several intercreditor agreements set how first and second lien lenders rank on the collateral, including collateral held by the Muvico-linked Centertainment group and the Odeon group.

AMC shares were $2.79, up 0.72%, as of 6:16 a.m. ET Tuesday (market data).

## What to watch

The trustee is to send a redemption notice to holders of the remaining 7.500% notes ahead of the planned February 15, 2027 redemption. The first interest payment on the new notes is due April 15, 2027.

The first test of the new structure comes April 15, 2027, when AMC owes its first interest payment on the [8.875% notes](https://finance.yahoo.com/markets/stocks/articles/amc-4-billion-refinancing-governance-000955433.html?ref=bullished.co).

### Sources

- [8-K Filing — AMC ENTERTAINMENT HOLDINGS, INC. (AMC)](https://www.sec.gov/Archives/edgar/data/0001411579/000110465926113853/tm2627016d1%5F8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2627016d1\_ex99-1.htm — AMC ENTERTAINMENT HOLDINGS, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001411579/000110465926113853/tm2627016d1%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Will AMC’s $4 Billion Refinancing And Governance Shift Change AMC Entertainment Holdings' (AMC) Narrative?](https://finance.yahoo.com/markets/stocks/articles/amc-4-billion-refinancing-governance-000955433.html?ref=bullished.co) — Yahoo Finance
- [AMC Entertainment Holdings, Inc. Announces Results of Tender Offer, the Closing of First Lien Notes Offering and New Term Loan Facilities Totaling a $3.97 Billion Refinancing of Existing Debt](https://www.businesswire.com/news/home/20261005927504/en/AMC-Entertainment-Holdings-Inc.-Announces-Results-of-Tender-Offer-the-Closing-of-First-Lien-Notes-Offering-and-New-Term-Loan-Facilities-Totaling-a-$3.97-Billion-Refinancing-of-Existing-Debt?ref=bullished.co) — businesswire.com