AMC Networks to Launch $400 Million Senior Secured Notes
AMC Networks to Launch $400 Million Senior Secured Notes
AMC Networks Inc. (Nasdaq: AMCX) has announced significant plans to enhance its financial stance by proposing a private offering of $400 million in senior secured notes due in 2032. This move is contingent on market conditions and other influencing factors.
Details of the Offering
The senior secured notes will be guaranteed on a joint and several basis by AMC Networks’ existing and future domestic subsidiaries, aligning with industry standards. This ensures that these subsidiaries are held accountable for delivering on the obligations presented by the notes.
Intended Use of Proceeds
AMC Networks plans to utilize the net proceeds from this notes offering alongside any available cash to achieve several financial objectives. These include funding a tender offer to purchase up to $450 million in outstanding senior notes that are due in 2029. Additionally, the proceeds will cover premiums, fees, and costs associated with both the note offering and the tender offer, as well as providing for the repayment or buyback of other corporate debts.
Regulatory Compliance
It is essential to note that the offering of these notes will be executed in accordance with the Securities Act of 1933. The initial buyers will conduct the offering to qualified institutional buyers, adhering strictly to regulatory guidelines. As per these regulations, the notes will not be registered, meaning they cannot be marketed for sale within the United States to anyone unless it qualifies for a registration exemption.
Legal Disclaimers
It's crucial to understand that this announcement does not serve as a sales offer, solicitation, or redemption notice for any securities. Such actions regarding these notes will not occur in jurisdictions where it would be unlawful without appropriate registrations or qualifications.
About AMC Networks
AMC Networks Inc. is a powerhouse in the entertainment industry, known for delivering some of the most iconic stories and beloved characters across television and film. The company has a diverse portfolio that spans across various platforms, offering a range of streaming services such as AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. They also operate several popular cable networks, including AMC, BBC AMERICA, IFC, SundanceTV, and We TV. Furthermore, AMC Studios stands out for producing acclaimed original content, spotlighting renowned franchises such as The Walking Dead Universe and the Anne Rice Immortal Universe.
Contact Information
If you have inquiries related to investment or corporate communications, you can reach out to:
Investor Relations:
Nicholas Seibert
Email: nicholas.seibert@amcnetworks.com
Corporate Communications:
Georgia Juvelis
Email: georgia.juvelis@amcnetworks.com
Frequently Asked Questions
What is the purpose of AMC Networks' proposed offering?
The offering aims to raise capital to fund a tender offer for outstanding senior notes and enhance the company's financial positioning.
What guarantees are associated with the new notes?
The notes will be unconditionally guaranteed by existing and future domestic subsidiaries of AMC Networks.
How will the offering be conducted?
The notes will be offered to qualified institutional buyers in compliance with the Securities Act, and the offering will adhere to specific regulatory conditions.
What is the maturity date for the new notes?
The senior secured notes are set to mature in 2032.
Who can be contacted for more information regarding the offering?
Contact details for Investor Relations and Corporate Communications are provided in the article for any inquiries.
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