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8-K: Amc Entertainment Holdings, Inc.'s $225.0 Million Senior Secured Revolving Credit Facility Matures on April 22, 2024, And the Company Does Not Intend to Renew the Facility

SEC announcement ·  Apr 19 16:41
Summary by Moomoo AI
AMC Entertainment Holdings, Inc. has announced the termination of its $225.0 million Senior Secured Revolving Credit Facility as of April 19, 2024. The facility was set to mature on April 22, 2024, and the company has chosen not to renew it. Instead, AMC has established a new letter of credit facility to maintain its business operations. Prior to this termination, the company had an agreement with lenders to suspend the testing of a financial covenant related to a secured leverage ratio until March 31, 2024, provided the company maintained a minimum liquidity of $100 million. With the payoff of the remaining obligations under the Senior Secured Revolving Credit Facility, the financial covenant and its suspension conditions are no longer applicable. This termination does not impact the company's senior secured term loan facility.
AMC Entertainment Holdings, Inc. has announced the termination of its $225.0 million Senior Secured Revolving Credit Facility as of April 19, 2024. The facility was set to mature on April 22, 2024, and the company has chosen not to renew it. Instead, AMC has established a new letter of credit facility to maintain its business operations. Prior to this termination, the company had an agreement with lenders to suspend the testing of a financial covenant related to a secured leverage ratio until March 31, 2024, provided the company maintained a minimum liquidity of $100 million. With the payoff of the remaining obligations under the Senior Secured Revolving Credit Facility, the financial covenant and its suspension conditions are no longer applicable. This termination does not impact the company's senior secured term loan facility.
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